Morgan Stanley Reiterates “Overweight” Rating for Hurricane Energy (HUR)

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Morgan Stanley reaffirmed their overweight rating on shares of Hurricane Energy (LON:HUR) in a report issued on Thursday morning, Digital Look reports.

Separately, Canaccord Genuity downgraded Hurricane Energy to a speculative buy rating and lowered their price target for the stock from GBX 115 ($1.50) to GBX 110 ($1.44) in a report on Tuesday, April 9th.

Shares of Hurricane Energy stock opened at GBX 55.95 ($0.73) on Thursday. Hurricane Energy has a 1 year low of GBX 38 ($0.50) and a 1 year high of GBX 60.75 ($0.79). The stock has a market capitalization of $1.10 billion and a price-to-earnings ratio of -18.05. The company has a quick ratio of 1.84, a current ratio of 1.93 and a debt-to-equity ratio of 31.58.

In related news, insider Roy Kelly sold 3,527,501 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of GBX 45 ($0.59), for a total transaction of £1,587,375.45 ($2,074,187.18).

Hurricane Energy Company Profile

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.

Further Reading: Initial Public Offering (IPO)

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