Harbour Energy (LON:HBR) Shares Down 11.7% - Here's Why

Harbour Energy plc (LON:HBR - Get Free Report) shares fell 11.7% during mid-day trading on Thursday . The company traded as low as GBX 184.60 ($2.38) and last traded at GBX 189.05 ($2.43). 9,060,795 shares traded hands during trading, an increase of 95% from the average session volume of 4,646,849 shares. The stock had previously closed at GBX 214 ($2.76).

Analyst Upgrades and Downgrades

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

Harbour Energy Price Performance

The company has a debt-to-equity ratio of 76.75, a current ratio of 0.82 and a quick ratio of 0.33. The stock has a market capitalization of £3.40 billion, a price-to-earnings ratio of 59.49, a PEG ratio of 0.04 and a beta of -0.23. The stock's 50 day simple moving average is GBX 246.66 and its 200-day simple moving average is GBX 258.62.

Insiders Place Their Bets

In related news, insider Simon Henry acquired 10,000 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were bought at an average price of GBX 198 ($2.55) per share, for a total transaction of £19,800 ($25,492.47). Also, insider Alan M. Ferguson bought 21,436 shares of Harbour Energy stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average price of GBX 187 ($2.41) per share, with a total value of £40,085.32 ($51,609.78). Company 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.