Harbour Energy (LON:HBR) Reaches New 1-Year High – Still a Buy?

Harbour Energy plc (LON:HBR)’s share price hit a new 52-week high during trading on Monday . The company traded as high as GBX 300.60 and last traded at GBX 298, with a volume of 33536309 shares traded. The stock had previously closed at GBX 288.10.

Wall Street Analyst Weigh In

HBR has been the topic of a number of recent research reports. Canaccord Genuity Group boosted their price objective on Harbour Energy from GBX 292 to GBX 320 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Peel Hunt reiterated a “buy” rating and set a GBX 270 price target on shares of Harbour Energy in a report on Monday, December 15th. JPMorgan Chase & Co. boosted their price target on shares of Harbour Energy from GBX 270 to GBX 278 and gave the company a “neutral” rating in a research report on Wednesday, March 11th. Finally, Berenberg Bank reissued a “hold” rating and issued a GBX 225 price objective on shares of Harbour Energy in a report on Thursday, March 5th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 276.60.

Harbour Energy Trading Up 1.8%

The firm has a market capitalization of £4.51 billion, a price-to-earnings ratio of -9.77, a PEG ratio of 0.04 and a beta of -0.23. The business’s 50-day simple moving average is GBX 234.50 and its two-hundred day simple moving average is GBX 220.33. The company has a quick ratio of 0.33, a current ratio of 1.04 and a debt-to-equity ratio of 20.81.

Insider Buying and Selling at Harbour Energy

In related news, insider Blair Thomas sold 60,000,000 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of GBX 255, for a total transaction of £153,000,000. Insiders own 1.96% of the company’s stock.

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.