We’ve recently updated our valuation analysis.

Harbour Energy Valuation

Is HBR undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HBR?

Other financial metrics that can be useful for relative valuation.

HBR key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.1x
Enterprise Value/EBITDA1.6x
PEG Ratio-0.2x

Price to Earnings Ratio vs Peers

How does HBR's PE Ratio compare to its peers?

The above table shows the PE ratio for HBR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average13x
ENOG Energean
46.1x67.9%UK£2.2b
ITH Ithaca Energy
1.4x-26.9%UK£1.9b
CNE Capricorn Energy
1.1x-54.4%UK£753.4m
SQZ Serica Energy
3.5x17.9%UK£687.8m
HBR Harbour Energy
3.3x-19.8%UK£2.7b

Price-To-Earnings vs Peers: HBR is good value based on its Price-To-Earnings Ratio (3.3x) compared to the peer average (13x).


Price to Earnings Ratio vs Industry

How does HBR's PE Ratio compare vs other companies in the GB Oil and Gas Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a-1.1%
n/an/an/a

Price-To-Earnings vs Industry: HBR is good value based on its Price-To-Earnings Ratio (3.3x) compared to the UK Oil and Gas industry average (4.7x)


Price to Earnings Ratio vs Fair Ratio

What is HBR's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HBR PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio3.3x
Fair PE Ratio3.9x

Price-To-Earnings vs Fair Ratio: HBR is good value based on its Price-To-Earnings Ratio (3.3x) compared to the estimated Fair Price-To-Earnings Ratio (3.9x).


Share Price vs Fair Value

What is the Fair Price of HBR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HBR (£3.17) is trading above our estimate of fair value (£2.93)

Significantly Below Fair Value: HBR is trading above our estimate of fair value.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst HBR forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£3.17
UK£4.63
+46.2%
25.2%UK£6.65UK£3.04n/a11
Jan ’24UK£3.04
UK£4.90
+60.9%
23.7%UK£6.59UK£3.10n/a11
Dec ’23UK£3.18
UK£5.05
+58.6%
23.2%UK£6.71UK£3.15n/a11
Nov ’23UK£3.82
UK£6.47
+69.5%
14.7%UK£7.97UK£4.95n/a11
Oct ’23UK£4.48
UK£6.66
+48.6%
14.9%UK£8.19UK£5.09n/a11
Sep ’23UK£4.69
UK£6.33
+34.9%
12.5%UK£7.41UK£4.84n/a11
Aug ’23UK£3.59
UK£5.70
+58.7%
13.7%UK£6.91UK£4.31n/a10
Jul ’23UK£3.33
UK£5.72
+72.0%
13.6%UK£6.82UK£4.28n/a10
Jun ’23UK£3.79
UK£5.60
+48.0%
15.2%UK£6.76UK£4.22n/a10
May ’23UK£5.04
UK£6.09
+20.7%
18.4%UK£8.18UK£4.19n/a10
Apr ’23UK£4.82
UK£5.77
+19.8%
18.3%UK£7.85UK£4.02n/a10
Mar ’23UK£4.04
UK£5.13
+27.1%
14.6%UK£6.21UK£3.63n/a10
Feb ’23UK£3.65
UK£4.99
+36.6%
15.8%UK£6.16UK£3.60n/a11
Jan ’23UK£3.54
UK£5.03
+42.0%
15.8%UK£6.34UK£3.45UK£3.0411
Dec ’22UK£4.00
UK£5.35
+33.8%
13.8%UK£6.74UK£4.36UK£3.1811
Nov ’22UK£3.63
UK£5.33
+46.7%
12.6%UK£6.62UK£4.28UK£3.8211
Oct ’22UK£3.55
UK£4.91
+38.3%
17.0%UK£6.60UK£3.79UK£4.4811
Sep ’22UK£3.61
UK£4.90
+35.8%
16.5%UK£6.57UK£3.85UK£4.6911
Aug ’22UK£3.27
UK£4.92
+50.5%
17.4%UK£6.58UK£3.80UK£3.5910
Jul ’22UK£3.98
UK£5.12
+28.7%
16.2%UK£6.54UK£3.91UK£3.3310
Jun ’22UK£4.28
UK£4.85
+13.2%
16.6%UK£5.99UK£3.90UK£3.797
May ’22UK£4.09
UK£4.90
+19.8%
16.2%UK£6.02UK£3.97UK£5.047

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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