Harbour Energy (LON:HBR) Price Target Cut to GBX 260 by Analysts at Canaccord Genuity Group

Harbour Energy (LON:HBR - Free Report) had its target price reduced by Canaccord Genuity Group from GBX 360 ($4.68) to GBX 260 ($3.38) in a research note issued to investors on Friday morning, MarketBeat Ratings reports. They currently have a buy rating on the stock.

Separately, Shore Capital reissued a "not rated" rating on shares of Harbour Energy in a research note on Thursday, January 23rd.

Harbour Energy Trading Up 2.8 %

HBR traded up GBX 5.45 ($0.07) during midday trading on Friday, hitting GBX 196.95 ($2.56). 336,646,875 shares of the company were exchanged, compared to its average volume of 17,446,768. The firm has a market capitalization of £3.53 billion, a P/E ratio of 61.93, a P/E/G ratio of 0.04 and a beta of -0.23. The company has a quick ratio of 0.33, a current ratio of 0.82 and a debt-to-equity ratio of 76.75. The firm's 50 day moving average price is GBX 238.09 and its 200-day moving average price is GBX 254.56. Harbour Energy has a 1-year low of GBX 177.90 ($2.31) and a 1-year high of GBX 333.90 ($4.34).

Harbour Energy Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.13 per share. This is a positive change from Harbour Energy's previous dividend of $0.13. This represents a yield of 5.21%. The ex-dividend date is Thursday, April 10th. Harbour Energy's payout ratio is currently 628.84%.

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Insiders Place Their Bets

In other Harbour Energy news, insider Alan M. Ferguson bought 21,436 shares of Harbour Energy stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of GBX 187 ($2.43) per share, with a total value of £40,085.32 ($52,065.62). Also, insider Simon Henry bought 10,000 shares of Harbour Energy stock in a transaction dated Thursday, March 6th. The stock was acquired at an average cost of GBX 198 ($2.57) per share, with a total value of £19,800 ($25,717.63). Corporate insiders own 64.08% 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.