Harbour Energy PLC Sponsored ADR (OTCMKTS:HBRIY) Sees Significant Decrease in Short Interest

Key Points

• Harbour Energy PLC experienced a 34.9% decline in short interest in August, with only 17,700 shares short sold by the end of the month.
• The company has announced a dividend payment of $0.1119 for shareholders, resulting in a high yield of 623.0%.
• Wall Street analysts maintain a "Moderate Buy" rating for Harbour Energy, with one analyst suggesting a buy and another a hold on the stock.

Harbour Energy PLC Sponsored ADR (OTCMKTS:HBRIY - Get Free Report) saw a significant decline in short interest in August. As of August 31st, there was short interest totaling 17,700 shares, a decline of 34.9% from the August 15th total of 27,200 shares. Approximately 0.0% of the company's stock are sold short. Based on an average trading volume of 35,800 shares, the short-interest ratio is currently 0.5 days. Based on an average trading volume of 35,800 shares, the short-interest ratio is currently 0.5 days. Approximately 0.0% of the company's stock are sold short.

Harbour Energy Trading Down 6.3%

HBRIY traded down $0.20 during midday trading on Friday, reaching $2.95. The company had a trading volume of 27,070 shares, compared to its average volume of 2,765. 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 has a 12-month low of $2.08 and a 12-month high of $3.83. The business has a 50-day moving average price of $3.05 and a two-hundred day moving average price of $2.69.

Harbour Energy Cuts Dividend

The firm also recently declared a dividend, which will be paid on Monday, October 6th. Investors of record on Tuesday, August 19th will be paid a dividend of $0.1119 per share. This represents a dividend yield of 623.0%. The ex-dividend date is Monday, August 18th.

Analysts Set New Price Targets

Separately, Morgan Stanley reaffirmed an "overweight" rating on shares of Harbour Energy in a research report on Tuesday, June 17th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy".

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.