Added to YB: 2026-08-17
Pitch date: 2026-08-13
HBR.L [bullish]
Harbour Energy plc
-0.16%
current return
Author Info
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Company Info
Harbour Energy plc, together with its subsidiaries, engages in the acquisition, exploration, development, and production of oil and gas reserves in Norway, the United Kingdom, Germany, Mexico, Argentina, North Africa, and Southeast Asia.
Market Cap
GBP 6.1B
Pitch Price
GBP 2.46
Price Target
N/A
Dividend
4.83%
EV/EBITDA
1.87
P/E
18.06
EV/Sales
1.24
Sector
Oil, Gas and Consumable Fuels
Category
value
HBR Speed is being exceeded
HBR.L: UK/Norway oil & gas at ~6x adj PE, 243p. Generated $2.86bn operating cash flow in 1H26 vs $5.1bn mcap; $1.8bn FCF (35% yield). Mix shift to low-tax Argentina/US/Mexico (35%→50%) cuts ETR 81%→69%, lifting FCF to $2.52bn. Hidden ~$7bn N.Sea decommissioning tax carry-back = ~50% economic NAV discount. $250-500m buybacks + 5.9% div. Brokers too bearish; EIG overhang clearing. Risk: 7-8yr reserve life.
Read full article (8 min)