JPMorgan Chase & Co. started coverage on shares of Harbour Energy (LON:HBR – Free Report) in a research note released on Tuesday morning, Marketbeat reports. The firm issued an overweight rating and a GBX 298 target price on the stock.
Other analysts also recently issued research reports about the stock. Shore Capital reiterated a “no recommendation” rating on shares of Harbour Energy in a report on Thursday, August 7th. Berenberg Bank increased their price objective on shares of Harbour Energy from GBX 200 to GBX 220 and gave the company a “hold” rating in a report on Friday, August 8th. Finally, Canaccord Genuity Group increased their price objective on shares of Harbour Energy from GBX 275 to GBX 285 and gave the company a “buy” rating in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Harbour Energy presently has an average rating of “Moderate Buy” and an average target price of GBX 267.67.
Read Our Latest Stock Analysis on HBR
Harbour Energy Price Performance
HBR stock traded down GBX 2.60 during mid-day trading on Tuesday, reaching GBX 224.20. The company’s stock had a trading volume of 215,558,469 shares, compared to its average volume of 8,515,301. The stock has a market cap of £3.21 billion, a PE ratio of -762.52, a P/E/G ratio of 0.04 and a beta of -0.23. The company has a current ratio of 0.82, a quick ratio of 0.33 and a debt-to-equity ratio of 76.75. Harbour Energy has a fifty-two week low of GBX 146.40 and a fifty-two week high of GBX 297.20. The company’s 50 day moving average is GBX 212.39 and its two-hundred day moving average is GBX 195.67.
Harbour Energy announced that its board has authorized a stock repurchase plan on Thursday, August 7th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
About Harbour Energy
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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