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

Key Points

• Harbour Energy's shares gapped up by over 8% at market open, moving from a previous close of $3.26 to $3.54.
• Morgan Stanley has reiterated an "overweight" rating on Harbour Energy, suggesting positive future expectations for the stock.
• The company's financial metrics indicate solid fundamentals with a debt-to-equity ratio of 0.68 and a current ratio of 0.70.

Harbour Energy PLC Sponsored ADR (OTCMKTS:HBRIY - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $3.26, but opened at $3.54. Harbour Energy shares last traded at $3.54, with a volume of 100 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley reissued an "overweight" rating on shares of Harbour Energy in a research report on Tuesday, June 17th.

Harbour Energy Price Performance

The firm's 50-day moving average is $2.82 and its 200-day moving average is $2.67. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.70 and a quick ratio of 0.63.

Harbour Energy Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Monday, October 6th. Shareholders of record on Tuesday, August 19th will be issued a dividend of $0.1119 per share. This represents a 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.