JPMorgan Chase & Co. Issues Positive Forecast for Harbour Energy (LON:HBR) Stock Price

Key Points

• JPMorgan raised Harbour Energy’s price target from GBX 260 to GBX 280 while maintaining a neutral rating, implying 13.09% potential upside from the prior close.
• Analyst sentiment remains positive overall, with four Buy ratings and two Hold ratings; the consensus target price is GBX 311, according to MarketBeat.
• Harbour Energy shares opened at GBX 247.60 and were up 0.5%, while insider Blair Thomas sold 54.8 million shares for approximately £112.3 million.

Harbour Energy (LON:HBR - Get Free Report) had its target price raised by analysts at JPMorgan Chase & Co. from GBX 260 to GBX 280 in a note issued to investors on Monday,London Stock Exchange reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 13.09% from the company's previous close.

Several other equities analysts have also commented on HBR. Canaccord Genuity Group reduced their target price on shares of Harbour Energy from GBX 450 to GBX 425 and set a "buy" rating on the stock in a report on Wednesday, June 24th. Jefferies Financial Group reissued a "buy" rating and issued a GBX 295 price target on shares of Harbour Energy in a research note on Friday, May 8th. Berenberg Bank restated a "hold" rating and set a GBX 245 price target on shares of Harbour Energy in a research report on Thursday. Finally, Stifel Nicolaus reaffirmed a "buy" rating and set a GBX 351 price objective on shares of Harbour Energy in a research note on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 311.

Harbour Energy Trading Up 0.5%

HBR stock opened at GBX 247.60 on Monday. The company has a market capitalization of £3.89 billion, a PE ratio of -15.47, a price-to-earnings-growth ratio of 0.04 and a beta of -0.23. The company has a debt-to-equity ratio of 165.80, a quick ratio of 0.33 and a current ratio of 0.70. Harbour Energy has a one year low of GBX 182 and a one year high of GBX 321. The company's 50 day moving average price is GBX 240.23 and its two-hundred day moving average price is GBX 257.32.

Insider Buying and Selling at Harbour Energy

In other news, insider Blair Thomas sold 54,775,572 shares of the stock in a transaction that occurred on Friday, July 3rd. The stock was sold at an average price of GBX 205, for a total transaction of £112,289,922.60. Company insiders own 1.49% of the company's stock.

Harbour Energy Company Profile

Harbour Energy is the largest London-listed independent oil and gas company with significant positions in Norway, the UK, Germany, Argentina, Mexico, North Africa and South East Asia.

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