Harbour Energy (LON:HBR) Shares Down 2% – Here’s What Happened

Harbour Energy plc (LON:HBR) traded down 2% during trading on Monday . The company traded as low as GBX 264.50 ($3.43) and last traded at GBX 268.40 ($3.48). 815,230 shares changed hands during trading, a decline of 74% from the average session volume of 3,187,608 shares. The stock had previously closed at GBX 273.90 ($3.55).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group boosted their price objective on shares of Harbour Energy from GBX 360 ($4.67) to GBX 385 ($4.99) and gave the stock a “buy” rating in a report on Thursday, July 11th.

Harbour Energy Stock Up 3.8 %

The company has a current ratio of 0.81, a quick ratio of 0.33 and a debt-to-equity ratio of 89.42. The stock has a 50 day simple moving average of GBX 272.16 and a 200 day simple moving average of GBX 290.58. The firm has a market capitalization of £3.92 billion, a PE ratio of 3,043.33, a PEG ratio of 0.04 and a beta of -0.23.

Harbour Energy Announces Dividend

The company also recently declared a dividend, which was paid on Wednesday, September 25th. Investors of record on Thursday, August 15th were issued a dividend of $0.13 per share. The ex-dividend date was Thursday, August 15th. This represents a yield of 3.6%. Harbour Energy’s dividend payout ratio is currently 22,222.22%.

Insiders Place Their Bets

In other news, insider Blair Thomas sold 8,200,000 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of GBX 265 ($3.44), for a total transaction of £21,730,000 ($28,180,521.33). In related news, insider Simon Henry acquired 20,000 shares of Harbour Energy stock in a transaction on Wednesday, September 4th. The shares were acquired at an average cost of GBX 289 ($3.75) per share, with a total value of £57,800 ($74,957.85). Also, insider Blair Thomas sold 8,200,000 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of GBX 265 ($3.44), for a total transaction of £21,730,000 ($28,180,521.33). Insiders own 64.08% of the company’s stock.

About Harbour Energy

Harbour Energy plc, together with its subsidiaries, engages in the acquisition, exploration, development, and production of oil and gas reserves. The company holds interests in various properties located in the United Kingdom, Norwegian Continental Shelves, Indonesia, Vietnam, and Mexico. It is also involved in the decommissioning, financing, gas trading, and risk mitigation activities.