Hurricane Energy (LON:HUR) Price Target Cut to GBX 50

Hurricane Energy (LON:HUR) had its target price cut by research analysts at Barclays from GBX 55 ($0.72) to GBX 50 ($0.65) in a research note issued on Wednesday, Stock Target Advisor reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 54.76% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. Canaccord Genuity lowered their target price on shares of Hurricane Energy from GBX 95 ($1.24) to GBX 85 ($1.11) and set a “buy” rating for the company in a research note on Tuesday, October 15th. Berenberg Bank restated a “buy” rating and issued a GBX 100 ($1.31) target price on shares of Hurricane Energy in a report on Monday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating on shares of Hurricane Energy in a research report on Thursday, September 12th. Five equities research analysts have rated the stock with a buy rating, Hurricane Energy presently has an average rating of “Buy” and an average target price of GBX 78.75 ($1.03).

LON:HUR opened at GBX 32.31 ($0.42) on Wednesday. The firm’s fifty day moving average is GBX 42.75 and its 200-day moving average is GBX 46.36. The company has a debt-to-equity ratio of 49.02, a quick ratio of 1.56 and a current ratio of 1.68. Hurricane Energy has a 52 week low of GBX 37.80 ($0.49) and a 52 week high of GBX 64.50 ($0.84). The firm has a market cap of $659.16 million and a P/E ratio of -80.77.

About Hurricane Energy

Hurricane Energy plc, together with its subsidiaries, discovers, appraises, and develops oil from fractured basement reservoirs. The company has a portfolio of contiguous offshore licenses on the United Kingdom Continental Shelf, to the west of Shetland. Its producing oil fields include Clair, Foinaven, and Schiehallion; licenses are focuses on the Rona Ridge, a major NE-SW trending basement; and acreage comprises Lancaster, Whirlwind, Lincoln, and Halifax.

Recommended Story: How dollar cost averaging works

Analyst Recommendations for Hurricane Energy (LON:HUR)

Receive News & Ratings for Hurricane Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hurricane Energy and related companies with's FREE daily email newsletter.