Harbour Energy (OTCMKTS:HBRIY) Shares Gap Up - Time to Buy?

Key Points

• Harbour Energy's stock price gapped up from $3.25 to $3.38 before the market opened, indicating increased investor interest.
• Analysts have given Harbour Energy a "Moderate Buy" rating, with Morgan Stanley maintaining an "overweight" rating.
• The company announced a dividend of $0.1119, to be paid on October 6th, representing a substantial yield of 623.0% despite a recent decrease in stock price.

Harbour Energy PLC Sponsored ADR (OTCMKTS:HBRIY - Get Free Report)'s stock price gapped up before the market opened on Thursday . The stock had previously closed at $3.25, but opened at $3.38. Harbour Energy shares last traded at $3.20, with a volume of 887 shares trading hands.

Analyst Upgrades and Downgrades

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 issued a Hold rating to the company's stock. According to MarketBeat, Harbour Energy presently has an average rating of "Moderate Buy".

Harbour Energy Stock Down 1.7%

The firm has a fifty day moving average of $2.99 and a two-hundred day moving average of $2.69. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 0.68.

Harbour Energy Cuts Dividend

The business also recently announced a dividend, which will be paid on Monday, October 6th. Shareholders of record on Tuesday, August 19th will be paid a $0.1119 dividend. The ex-dividend date 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.