Harbour Energy plc (LON:HBR) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Harbour Energy plc (LON:HBR) has earned an average rating of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is GBX 311.

A number of brokerages recently weighed in on HBR. Berenberg Bank reissued a “hold” rating and set a GBX 245 target price on shares of Harbour Energy in a research note on Thursday, August 6th. JPMorgan Chase & Co. upped their price objective on shares of Harbour Energy from GBX 260 to GBX 280 and gave the company a “neutral” rating in a report on Monday, August 10th.

Harbour Energy Price Performance

Shares of HBR opened at GBX 268.40 on Thursday. The business has a 50-day moving average of GBX 280.57 and a 200-day moving average of GBX 263.85. The company has a debt-to-equity ratio of 166.66, a current ratio of 0.70 and a quick ratio of 0.33. The company has a market capitalization of £4.00 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 0.04 and a beta of -0.23. Harbour Energy has a 1 year low of GBX 182 and a 1 year high of GBX 321.

Harbour Energy announced that its board has initiated a stock repurchase plan on Thursday, November 5th that allows the company to repurchase £111.45 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.8% of its stock through open market purchases. Share repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.