Harbour Energy (OTCMKTS:HBRIY) Shares Gap Down - Here's What Happened

Key Points

• Harbour Energy's shares gapped down from $3.00 to $2.85 at market opening, with only 300 shares traded during this session.
• The company is rated as a "Moderate Buy" by analysts, with Morgan Stanley recently reissuing an "overweight" rating.
• Harbour Energy also cut its dividend, declaring a payment of $0.1119 scheduled for October 6th, reflecting a notable yield of 623.0%.

Harbour Energy PLC Sponsored ADR (OTCMKTS:HBRIY - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $3.00, but opened at $2.85. Harbour Energy shares last traded at $2.85, with a volume of 300 shares traded.

Analyst Ratings Changes

Separately, Morgan Stanley reissued an "overweight" rating on shares of Harbour Energy in a research note on Tuesday, June 17th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy".

Harbour Energy Price Performance

The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. The business's 50-day moving average is $3.08 and its two-hundred day moving average is $2.71.

Harbour Energy Cuts Dividend

The business also recently declared a dividend, which will be paid on Monday, October 6th. Investors of record on Tuesday, August 19th will be given a $0.1119 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a yield of 623.0%.

About Harbour Energy

Harbour Energy plc, together with its subsidiaries, engages in the acquisition, exploration, development, and production of oil and gas reserves. The company holds interests in various properties located in the United Kingdom, Norwegian Continental Shelves, Indonesia, Vietnam, and Mexico. It is also involved in the decommissioning, financing, gas trading, and risk mitigation activities.

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