Hurricane Energy PLC -27.1% potential downside indicated by Canaccord Genuity

Hurricane Energy PLC with ticker (LON:HUR) now has a potential downside of -27.1% according to Canaccord Genuity.



Canaccord Genuity set a target price of 9 GBX for the company, which when compared to the Hurricane Energy PLC share price of 11 GBX at opening today (13/04/2022) indicates a potential downside of -27.1%. Trading has ranged between 1 (52 week low) and 12 (52 week high) with an average of 16,837,574 shares exchanging hands daily. The market capitalisation at the time of writing is £221,894,547.

Hurricane Energy plc is a United Kingdom-based oil and gas company. The principal activity of the Company is to discover, appraise and develop hydrocarbons from naturally fractured basement reservoirs on the United Kingdom Continental Shelf. The Company’s acreage is concentrated on the Rona Ridge, in the West of Shetland region of the United Kingdom Continental Shelf. Its licenses include P1368 Central in Lancaster; P2308 in Halifax; P1368 South in Lincoln and P2294 in Warwick. Its Lancaster discovery is located in blocks, including 205/21a, 205/22a and 205/26b. The Lincoln discovery is located in 205/26b block. The Halifax structure is located in blocks 205/22b, 205/23 and 205/24. Its Warwick discovery is located in blocks, including 204/30b and 205/26d.