Harbour Energy (LON:HBR) Hits New 52-Week High – Time to Buy?

Shares of Harbour Energy plc (LON:HBR) hit a new 52-week high during mid-day trading on Friday . The company traded as high as GBX 382.20 and last traded at GBX 285.20, with a volume of 100971203 shares traded. The stock had previously closed at GBX 300.

Analysts Set New Price Targets

A number of research analysts have recently commented on HBR shares. JPMorgan Chase & Co. raised their price target on Harbour Energy from GBX 270 to GBX 278 and gave the company a “neutral” rating in a report on Wednesday, March 11th. Canaccord Genuity Group upped their price objective on shares of Harbour Energy from GBX 292 to GBX 320 and gave the stock a “buy” rating in a report on Thursday, December 18th. Berenberg Bank reiterated a “hold” rating and issued a GBX 225 target price on shares of Harbour Energy in a research report on Thursday, March 5th. Finally, Peel Hunt reissued a “buy” rating and set a GBX 270 target price on shares of Harbour Energy in a research note on Monday, December 15th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of GBX 276.60.

Harbour Energy Price Performance

The business has a 50-day simple moving average of GBX 250.21 and a two-hundred day simple moving average of GBX 224.40. The company has a quick ratio of 0.33, a current ratio of 1.04 and a debt-to-equity ratio of 20.81. The stock has a market capitalization of £4.59 billion, a price-to-earnings ratio of -9.94, a P/E/G ratio of 0.04 and a beta of -0.23.

Insider Activity at Harbour Energy

In other news, insider Blair Thomas sold 60,000,000 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of GBX 255, for a total value of £153,000,000. Corporate insiders own 1.96% of the company’s stock.

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.