Harbour Energy (LON:HBR) to Buyback $0.00 in Shares

Harbour Energy (LON:HBR) announced that its Board of Directors has approved a share buyback program on Thursday, August 7th, RTT News reports. The company plans to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Harbour Energy Stock Up 8.9%

Harbour Energy stock opened at GBX 222.40 ($2.99) on Friday. The firm’s 50 day moving average price is GBX 199.43 and its two-hundred day moving average price is GBX 197.91. The firm has a market cap of £3.99 billion, a PE ratio of 69.93, a P/E/G ratio of 0.04 and a beta of -0.23. Harbour Energy has a twelve month low of GBX 146.40 ($1.97) and a twelve month high of GBX 308.90 ($4.15). The company has a debt-to-equity ratio of 76.75, a quick ratio of 0.33 and a current ratio of 0.82.

Wall Street Analyst Weigh In

Separately, Shore Capital reiterated a “no recommendation” rating on shares of Harbour Energy in a report on Thursday.

Insider Buying and Selling at Harbour Energy

In other news, insider Belgacem Chariag bought 20,000 shares of the company’s stock in a transaction on Monday, May 12th. The shares were bought at an average cost of GBX 178 ($2.39) per share, with a total value of £35,600 ($47,875.20). Also, insider Alexander Krane purchased 9,644 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were purchased at an average cost of GBX 179 ($2.41) per share, with a total value of £17,262.76 ($23,215.12). Insiders own 64.08% 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.