Harbour Energy plc (LON:HBR) Stock Has Consensus Target Price of GBX 311

Harbour Energy plc (LON:HBR) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is GBX 311.

HBR has been the topic of several analyst reports. Berenberg Bank reissued a “hold” rating and set a GBX 245 target price on shares of Harbour Energy in a research report on Thursday, August 6th. JPMorgan Chase & Co. boosted their price target on Harbour Energy from GBX 260 to GBX 280 and gave the stock a “neutral” rating in a research report on Monday, August 10th.

Harbour Energy Stock Down 1.3%

Harbour Energy stock opened at GBX 263.60 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.33 and a debt-to-equity ratio of 166.66. Harbour Energy has a 1-year low of GBX 182 and a 1-year high of GBX 321. The firm’s fifty day simple moving average is GBX 279.90 and its 200-day simple moving average is GBX 263.24. The company has a market capitalization of £3.93 billion, a P/E ratio of 16.48, a P/E/G ratio of 0.04 and a beta of -0.23.

Harbour Energy declared that its Board of Directors has approved a stock repurchase plan on Thursday, November 5th that authorizes the company to buy back £111.45 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.8% of its shares through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is 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.