Shore Capital Reiterates “No Recommendation” Rating for Harbour Energy (LON:HBR)

Harbour Energy (LON:HBR)‘s stock had its “no recommendation” rating restated by equities researchers at Shore Capital in a note issued to investors on Thursday, Marketbeat.com reports.

Harbour Energy Stock Up 2.2%

Shares of LON:HBR opened at GBX 227.20 ($3.06) on Thursday. Harbour Energy has a 52 week low of GBX 146.40 ($1.97) and a 52 week 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. The company has a market capitalization of £4.08 billion, a PE ratio of 71.44, a PEG ratio of 0.04 and a beta of -0.23. The company has a 50 day moving average price of GBX 200.41 and a two-hundred day moving average price of GBX 197.48.

Harbour Energy announced that its Board of Directors has approved a stock buyback plan on Thursday, August 7th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity at Harbour Energy

In other news, insider Belgacem Chariag bought 20,000 shares of the stock in a transaction on Monday, May 12th. The stock was purchased at an average price of GBX 178 ($2.39) per share, with a total value of £35,600 ($47,881.64). Also, insider Alexander Krane bought 9,644 shares of the stock in a transaction on Tuesday, May 27th. The stock was purchased at an average cost of GBX 179 ($2.41) per share, with a total value of £17,262.76 ($23,218.24). 64.08% of the stock is currently owned by corporate insiders.

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.