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

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)'s share price 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 trading hands.

Wall Street Analysts Forecast Growth

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

Harbour Energy Stock Performance

The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.63 and a current ratio of 0.70. The stock has a 50-day moving average price of $3.00 and a two-hundred day moving average price of $2.69.

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 of this dividend is Monday, August 18th.

Harbour Energy Company Profile

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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