Harbour Energy (LON:HBR) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Harbour Energy (LON:HBR) had its price objective raised by investment analysts at Canaccord Genuity Group from GBX 275 ($3.70) to GBX 285 ($3.83) in a report issued on Friday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 25.44% from the company’s current price.

Separately, Shore Capital restated a “no recommendation” rating on shares of Harbour Energy in a research note on Thursday.

Harbour Energy Trading Up 2.2%

HBR opened at GBX 227.20 ($3.06) on Friday. The firm has a market cap of £4.08 billion, a price-to-earnings ratio of 71.44, a PEG ratio of 0.04 and a beta of -0.23. The company has a current ratio of 0.82, a quick ratio of 0.33 and a debt-to-equity ratio of 76.75. Harbour Energy has a 12 month low of GBX 146.40 ($1.97) and a 12 month high of GBX 308.90 ($4.15). The stock has a fifty day moving average price of GBX 200.41 and a 200-day moving average price of GBX 196.84.

Harbour Energy declared that its Board of Directors has authorized a stock buyback program on Thursday, August 7th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Harbour Energy

In other Harbour Energy news, insider Belgacem Chariag bought 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were purchased at an average cost of GBX 178 ($2.39) per share, for a total transaction of £35,600 ($47,881.64). Also, insider Alexander Krane bought 9,644 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The shares were acquired at an average price of GBX 179 ($2.41) per share, for a total transaction of £17,262.76 ($23,218.24). 64.08% of the stock is owned by 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.