Harbour Energy (LON:HBR – Get Free Report) declared that its board has authorized a share buyback plan on Thursday, November 5th, RTT News reports. The company plans to repurchase £111.45 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on the company. Berenberg Bank reissued a “hold” rating and issued a GBX 245 price target on shares of Harbour Energy in a research note on Thursday, August 6th. JPMorgan Chase & Co. upped their price objective on shares of Harbour Energy from GBX 260 to GBX 280 and gave the company a “neutral” rating in a research note on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 311.
Check Out Our Latest Report on Harbour Energy
Harbour Energy Trading Down 1.9%
LON HBR opened at GBX 262.81 on Friday. Harbour Energy has a twelve month low of GBX 182 and a twelve month high of GBX 321. The company has a debt-to-equity ratio of 166.66, a quick ratio of 0.33 and a current ratio of 0.70. The stock has a market cap of £3.91 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 0.04 and a beta of -0.23. The firm’s 50 day moving average price is GBX 279.58 and its two-hundred day moving average price is GBX 263.01.
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.
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