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

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) 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 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 research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy".

Harbour Energy Trading Down 0.7%

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 $3.02 and a 200-day simple moving average of $2.68.

Harbour Energy Cuts Dividend

The business also recently declared a dividend, which will be paid on Monday, October 6th. Shareholders 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.