Harbour Energy (LON:HBR) Price Target Cut to GBX 425 by Analysts at Canaccord Genuity Group

Harbour Energy (LON:HBR) had its price target lowered by investment analysts at Canaccord Genuity Group from GBX 450 to GBX 425 in a note issued to investors on Wednesday,Digital Look reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 87.56% from the company’s current price.

Several other equities research analysts also recently commented on the company. Stifel Nicolaus reiterated a “buy” rating and set a GBX 351 target price on shares of Harbour Energy in a report on Thursday, May 7th. JPMorgan Chase & Co. decreased their price target on Harbour Energy from GBX 318 to GBX 290 and set a “neutral” rating for the company in a report on Thursday, June 4th. Berenberg Bank lowered their price objective on shares of Harbour Energy from GBX 255 to GBX 245 and set a “hold” rating for the company in a research report on Friday, May 8th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a GBX 295 price objective on shares of Harbour Energy in a research note on Friday, May 8th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 312.67.

Harbour Energy Stock Down 4.3%

Shares of HBR traded down GBX 10.20 during midday trading on Wednesday, reaching GBX 226.60. 2,767,010 shares of the company were exchanged, compared to its average volume of 22,170,689. Harbour Energy has a 1-year low of GBX 182 and a 1-year high of GBX 321. The stock has a 50-day moving average price of GBX 275.28 and a 200-day moving average price of GBX 250.42. The company has a current ratio of 1.04, a quick ratio of 0.33 and a debt-to-equity ratio of 20.81. The company has a market cap of £3.56 billion, a price-to-earnings ratio of -14.16, a P/E/G ratio of 0.04 and a beta of -0.23.

Insider Buying and Selling

In other news, insider Alexander Krane sold 421,062 shares of Harbour Energy stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of GBX 267, for a total value of £1,124,235.54. Company insiders own 1.78% 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.