Harbour Energy (OTCMKTS:HBRIY) Shares Gap Down - Should You Sell?

Key Points

• Harbour Energy's shares gapped down from a previous close of $3.20 to an opening price of $3.05, with recent trading volumes recorded at 900 shares.
• Morgan Stanley has given Harbour Energy an "overweight" rating, with a consensus of "Moderate Buy" from analysts, indicating potential growth despite recent share price decline.
• The company announced a dividend of $0.1119 per share, reflecting a significant dividend yield of 623.0%, to be paid on October 6th.

Harbour Energy PLC Sponsored ADR (OTCMKTS:HBRIY - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $3.20, but opened at $3.05. Harbour Energy shares last traded at $3.05, with a volume of 900 shares.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley reiterated an "overweight" rating on shares of Harbour Energy in a research report on Tuesday, June 17th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy".

Harbour Energy Price Performance

The company has a debt-to-equity ratio of 0.68, a current ratio of 0.70 and a quick ratio of 0.63. The business has a 50-day simple moving average of $3.03 and a two-hundred day simple moving average of $2.68.

Harbour Energy Cuts Dividend

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

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.