Harbour Energy (OTCMKTS:HBRIY) Stock Price Down 5.8% - What's Next?

Key Points

• Harbour Energy's share price dropped by 5.8% to $3.60 during mid-day trading, with a significant decline of 98% in share volume compared to average sessions.
• Analysts from Morgan Stanley have reissued an "overweight" rating for Harbour Energy, signaling potential positive expectations for the company's stock.
• The company's financial ratios indicate a debt-to-equity ratio of 0.68, reflecting moderate leverage in its capital structure.

Harbour Energy PLC Sponsored ADR (OTCMKTS:HBRIY - Get Free Report)'s stock price was down 5.8% on Friday . The stock traded as low as $3.60 and last traded at $3.60. Approximately 103 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 5,817 shares. The stock had previously closed at $3.82.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley reissued 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 assigned a Hold rating to the company's stock. According to MarketBeat.com, Harbour Energy has an average rating of "Moderate Buy".

Harbour Energy Trading Down 0.2%

The firm has a fifty day moving average of $2.84 and a 200 day moving average of $2.67. The company has a current ratio of 0.70, a quick ratio of 0.63 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. Investors 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.

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.