0R15 8520.0 0.0% 0R1E 8203.0 0.0% 0M69 21090.0 67.5139% 0R2V 226.02 9878.8079% 0QYR None None% 0QYP 412.97 -2.8306% 0RUK 2652.0 -9.2402% 0RYA 1554.0 -0.7029% 0RIH 174.55 -1.3563% 0RIH 165.15 -5.3853% 0R1O 198.5 9800.2494% 0R1O None None% 0QFP None None% 0M2Z 267.777 -0.1763% 0VSO 32.05 -9.9846% 0R1I None None% 0QZI 559.0 0.7207% 0QZ0 220.0 0.0% 0NZF None None% 0YXG 165.7358 2.7149%

mid-cap

Market Update On One FTSE Listed Diversified Oil & Gas Stock - HBR

Mar 26, 2024 | Team Kalkine
Market Update On One FTSE Listed Diversified Oil & Gas Stock - HBR

HBR:LSE
Investment Type
Mid - Cap
Risk Level
Action
Rec. Price (GBX)

Harbour Energy PLC 

Harbour Energy PLC (LSE: HBR) is an FTSE 250 listed entity that came into existence after an all-share merger between Premier Oil and Chrysaor.

FY23 Results (Released on 07 March 2024)

  • Operational Update: The company reported that production averaged 186 kboepd in FY23 (almost 52% to Natural Gas & 48% to liquid) as compared to 208 kboepd in FY22. The unit operating costs rose marginally to approx. USD 16 per boe in the reported period FY23, when measured, against the unit operating costs of USD 14 per boe in the pcp.
  • Financial Update: The company reported group revenues of USD 3.7 bn in FY23 as compared to the revenue of USD 5.4 bn in FY22. The Profit before tax declined to USD 0.6 bn in the reported period (FY23) versus USD 2.5 bn in pcp. Also, the free cash flows during FY23 were USD 1.0 bn as compared to USD 2.1 bn in FY22.
  • Outlook: The management is expecting the production to be between 150 to 165 kboepd for FY24. Also, the Opex of approx. USD 18/ boe is expected whereas the total capex was estimated to be close to USD 1.2 bn in FY23.
  • Dividend Declaration: The management announced a full-year dividend of US 13 cents per share which is higher than 9% as compared to the previous full dividend of US 12 cents per share, which will be paid on 22 May 2024.

Share Price Chart

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Harbour Energy PLC (LSE: HBR) was trading at the closing market price of GBX 275.10  (as of 25 March 2024)

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 25 March 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 4: Dividend Yield may vary as per the stock price movement.


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