The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Everyone on this board should tweet Grant Shapps https://twitter.com/grantshapps and say he needs to get a floor placed on the windfall tax before the conservatives kill off the north sea and the smaller producers. I've already done it, the more pressure on these pricks the better
THIS NOT GOOD EITHER
Earnings vs Savings Rate: HBR's earnings are forecast to decline over the next 3 years (-19.8% per year).
Earnings vs Market: HBR's earnings are forecast to decline over the next 3 years (-19.8% per year).
High Growth Earnings: HBR's earnings are forecast to decline over the next 3 years.
Revenue vs Market: HBR's revenue (4.5% per year) is forecast to grow faster than the UK market (4.4% per year).
High Growth Revenue: HBR's revenue (4.5% per year) is forecast to grow slower than 20% per year.
This is what i'm worried about, we all know the up.
Jefferies' downside scenario (in which oil prices drop to US$60 or US$70) would point to a possible 34% decline to around 200p per share.
HERE'S OUR PROBLEM
Institutional owners may take dramatic actions as Harbour Energy plc's (LON:HBR) recent 3.5% drop adds to one-year losses
Simply Wall St
Thu, February 16, 2023 at 5:55 AM GMT·5 min read
In this article:
HBRIY
-4.10%
If you want to know who really controls Harbour Energy plc (LON:HBR), then you'll have to look at the makeup of its share registry. The group holding the most number of shares in the company, around 77% to be precise, is institutions. In other words, the group stands to gain the most (or lose the most) from their investment into the company.
And institutional investors endured the highest losses after the company's share price fell by 3.5% last week. Needless to say, the recent loss which further adds to the one-year loss to shareholders of 12% might not go down well especially with this category of shareholders. Institutions or "liquidity providers" control large sums of money and therefore, these types of investors usually have a lot of influence over stock price movements. As a result, if the decline continues, institutional investors may be pressured to sell Harbour Energy which might hurt individual investors.
Let's delve deeper into each type of owner of Harbour Energy, beginning with the chart below.
Check out our latest analysis for Harbour Energy
ownership-breakdown
ownership-breakdown
What Does The Institutional Ownership Tell Us About Harbour Energy?
Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing.
We can see that Harbour Energy does have institutional investors; and they hold a good portion of the company's stock. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Harbour Energy, (below). Of course, keep in mind that there are other factors to consider, too.
earnings-and-revenue-growth
earnings-and-revenue-growth
Since institutional investors own more than half the issued stock, the board will likely have to pay attention to their preferences. Hedge funds don't have many shares in Harbour Energy. Looking at our data, we can see that the largest shareholder is Noble Group Limited with 9.5% of shares outstanding. The second and third largest shareholders are BlackRock, Inc. and GIC Private Limited, with an equal amount of shares to their name at 4.1%. In addition, we found that Linda Cook, the CEO has 0.8% of the shares allocated to their name.
https://finance.yahoo.com/news/institutional-owners-may-dramatic-actions-055527
THIS WAS OUR PROBLEM TODAY
Enquest shares tank after it delays upcoming North Sea project, blaming Government's windfall tax
NOT LOOKING FORWARD TO NEXT WEEK
https://www.thisismoney.co.uk/money/markets/article-11764519/Enquest-shares-tank-delays-upcoming-North-Sea-project.html
British oil producer to cut back on North Sea projects
Story by Rachel Millard • 10h ago
14 Comments
UKX
?-0.10%?
MCX
?-0.46%?
NMX
?-0.15%?
AIM1
?-0.60%?
ASXXCTD
?+0.11%?
MARKETS TODAY
UKX
??-0.10%?
MCX
??-0.46%?
NMX
??-0.15%?
AIM1
??-0.60%?
ASXXCTD
? ?+0.11%?
ALondon-listed oil producer is delaying new drilling at its flagship North Sea field, becoming the latest British company to blame the windfall tax for curbing its plans.
North Sea Oil
North Sea Oil
© Provided by The Telegraph
Enquest said the raid on profits had led it to “optimise its capital programme”, with spending for 2023 now estimated at $160m (£134m) and extra drilling planned for its flagship Kraken field deferred.
Amjad Bseisu, chief executive, said the Government’s Energy Profits Levy would “have implications for our capital allocation strategy and our UK production growth ambitions”.
Enquest is the third oil and gas producer to publicly announce changes to its plans in response to the increase in the levy from 40pc to 75pc to pay for support for households struggling with high energy bills.
Harbour Energy, the North Sea’s largest producer, last month blamed the windfall tax as it flagged major job cuts and said it would “reassess our future activity levels in the UK”.
Harbour did not specify the number of jobs expected to go, but industry sources believe it is in the hundreds.
Related video: Russian refined oil product price cap: No panic over supply yet, analyst says (CNBC)
doesn't look like we're in any kind of panic stations just yet.
Current Time 1:26
/
Duration 1:48
CNBC
Russian refined oil product price cap: No panic over supply yet, analyst says
0
View on Watch
TotalEnergies, the French oil and gas giant, has said it will cut North Sea investment by £100m or 25pc this year owing to the higher tax, which is due to remain until 2028.
Maserati Grecale Modena: pure elegance and sporty soul.
Ad
Maserati
Several oil and gas companies want the Chancellor, Jeremy Hunt, to introduce a floor so that the tax is removed as oil and gas prices fall.
Oil and gas prices have fallen back to levels seen before Russia’s invasion of Ukraine. Soaring prices in the wake of the invasion were the trigger for the tax.
Despite the deferral of drilling at Kraken, Enquest plans to push ahead with investment at other fields, Magnus and Golden Eagle.
The delay at Kraken is not expected to dent Enquest’s output this year, as the drilling was not expected to bring on extra supplies until towards the end of the year.
Kraken produced 18,396 barrels of oil equivalent per day (boepd) in 2022. Enquest overall produced 40,801 boepd in the UK and 6,458 boepd in Malaysia.
Why do you want dividends? If they pay a 10p div we just drop that amount, I’d rather blow divs off and the share price to recover. I saw one article that said if oil drops below 70 hbr could go as low as £2, I really hope not but I keep asking myself why the board hasn’t purchased any share yet. **** me Linda get paid 6 million a year, really she isn’t worth anything near that. **** jobs she’s done.
Jeremy Hunt has made Britain a no-go area for investment
AstraZeneca is the tip of the iceberg - businesses are sick of being treated like piggy banks
BEN MARLOW
CHIEF CITY COMMENTATOR
10 February 2023 • 3:20pm
Ben Marlow
The Chancellor's tax grab is pushing corporate titans away from investing in the UK
The Chancellor's tax grab is pushing corporate titans away from investing in the UK CREDIT: Zara Farrar / HM Treasury
The timing couldn’t be more perfect. On Friday, Rishi Sunak and Jeremy Hunt hosted a summit of more than 200 prominent business figures as part of efforts to drum up fresh investment into Britain.
And what better backdrop than one of the biggest snubs this Government has ever suffered? AstraZeneca’s usually restrained boss Sir Pascal Soriot confirmed that the pharma giant had chosen to build a new state-of-the-art factory in Dublin rather than the north-west of England because of the Treasury’s punishing tax regime. Such a blow will cast a huge, almost comical, shadow over this desperate charm offensive.
Apparently the Prime Minister, who was expected to attend the gathering remotely, is hoping to build on the success of the Global Investment Summit 18 months ago when nearly £10bn of new foreign investment was pledged in a single day.
Well, good luck with that. Seriously, who is the Government trying to fool? It is almost like the last act of a drowning man.
Attendees at the latest jamboree were expected to include the bosses of big companies such as Airbus, HSBC, Nestlé and Nissan. They’re not stupid. These are sophisticated people in charge of global companies and they will invest in places that are deemed to be pro-business, which is not something you could say about the UK right now.
Corporation tax will jump to 25pc from 19pc in April, at the same time as a generous tax relief scheme for businesses is expected to end. Even the offer of a £50m state handout wasn’t enough to compensate AstraZeneca for the 15pc corporation tax rate found in Ireland, reports claim.
It is hard to remember when Britain was perceived this dimly in business circles. The Government’s approach - perhaps best described as treating businesses as little more than piggy banks to be regulated and taxed - has left top business figures visibly tearing their hair out. AstraZeneca is merely the tip of the iceberg.
The backlash was under way before Sir James Dyson’s stinging attack in this newspaper last month, but it appears to have emboldened others to speak out.
In the energy industry, it might soon be easier to tot up the projects that are going ahead, rather than the ones that are in danger of being pulled as a result of the windfall tax, which Hunt raised by 10pc to 35pc of profits at the beginning of the year.
France’s Total has said it will cut UK investment after revealing that half the $2.1bn hit it would take from windfall taxes in 2022 would come from the UK. It had previously warned of plans to abandon UK proje
£3.50 is my avg, If we get there over the next week I'm out of this ****. We would have gone back to £3 today if russia didnt do the oil cut, its may of saved just for today but it will be short lived :(
EIG Enters Into Harbour Energy plc Trading Plan
Author of the article:Business Wire
Business Wire
Published Feb 08, 2023 • 1 minute read
Join the conversation
Article content
WASHINGTON — EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced that it has established a pre-arranged trading plan (the “Trading Plan”) to permit the sale of up to 2 million shares (the “Shares”) of Harbour Energy plc (HBR.L or the “Company”) held by certain controlled affiliates of EIG. As previously announced on July 8, 2022, EIG completed a distribution of the Shares to various EIG fund investors and EIG affiliated shareholders. The distributions were a taxable event for certain EIG affiliated shareholders and, as a result, EIG is undertaking a sale of the Shares pursuant to the Trading Plan primarily to cover such tax obligations. The Trading Plan, entered into on February 6, 2023, will permit Shares to be sold through March 9, 2023 at times that EIG might otherwise be precluded from doing so under insider trading laws or Harbour Energy plc trading restrictions. The Trading Plan will be administered by an independent broker and will be subject to preset price, volume and timing restrictions set forth in the Trading Plan. Following the termination of the Trading Plan, EIG will remain the largest shareholder of the Company, holding approximately 15% of its outstanding shares through managed vehicles and proprietary ownership.