Pharos Energy (LON:PHAR) Trading Up 5.3% – What’s Next?

Pharos Energy plc (LON:PHAR) shares shot up 5.3% during trading on Friday . The company traded as high as GBX 20.70 and last traded at GBX 20.70. 249,549 shares changed hands during trading, a decline of 32% from the average session volume of 369,532 shares. The stock had previously closed at GBX 19.65.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PHAR. Shore Capital reissued a “house stock” rating on shares of Pharos Energy in a research note on Tuesday, October 21st. Peel Hunt reaffirmed a “buy” rating and issued a GBX 55 price objective on shares of Pharos Energy in a research report on Tuesday, December 9th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Pharos Energy has a consensus rating of “Buy” and a consensus target price of GBX 55.

Pharos Energy Trading Up 5.3%

The company has a market capitalization of £85.39 million, a PE ratio of 20.70, a price-to-earnings-growth ratio of -0.02 and a beta of 1.61. The company has a debt-to-equity ratio of 14.99, a current ratio of 2.02 and a quick ratio of 1.72. The company’s fifty day moving average is GBX 20.49 and its 200-day moving average is GBX 20.94.

Insiders Place Their Bets

In related news, insider Sue Rivett acquired 4,894 shares of the company’s stock in a transaction that occurred on Thursday, November 27th. The shares were bought at an average price of GBX 20 per share, with a total value of £978.80. Also, insider Katherine Roe bought 7,390 shares of the business’s stock in a transaction on Thursday, November 27th. The stock was bought at an average price of GBX 20 per share, for a total transaction of £1,478. Insiders bought a total of 34,575 shares of company stock worth $736,082 over the last quarter. Company insiders own 16.43% of the company’s stock.

About Pharos Energy

Pharos Energy is an independent oil and gas exploration and production company with a focus on sustainable growth and returns to stakeholders.
Pharos is listed on the London Stock Exchange, we have production, development and exploration interests in Egypt, Israel and Vietnam.