Harbour Energy (LON:HBR) Trading Down 9.2% – Here’s What Happened

Harbour Energy plc (LON:HBR)’s share price traded down 9.2% on Wednesday . The stock traded as low as GBX 251.40 and last traded at GBX 257.40. 802,448,813 shares traded hands during trading, an increase of 2,881% from the average session volume of 26,921,279 shares. The stock had previously closed at GBX 283.40.

Wall Street Analyst Weigh In

HBR has been the subject of several research analyst reports. Berenberg Bank restated a “hold” rating and issued a GBX 225 price objective on shares of Harbour Energy in a research note on Thursday, March 5th. Peel Hunt reiterated a “buy” rating and issued a GBX 270 target price on shares of Harbour Energy in a research report on Monday, December 15th. Finally, Canaccord Genuity Group increased their price target on shares of Harbour Energy from GBX 292 to GBX 320 and gave the stock a “buy” rating in a report on Thursday, December 18th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 280.60.

Harbour Energy Stock Performance

The company has a debt-to-equity ratio of 20.81, a current ratio of 1.04 and a quick ratio of 0.33. The company has a market capitalization of £4.04 billion, a PE ratio of -8.75, a price-to-earnings-growth ratio of 0.04 and a beta of -0.23. The firm’s fifty day simple moving average is GBX 225.89 and its 200 day simple moving average is GBX 218.44.

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.