Pharos Energy (LON:PHAR) Reaches New 1-Year High – Here’s Why

Shares of Pharos Energy plc (LON:PHAR) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 28 and last traded at GBX 26.50, with a volume of 1751201 shares. The stock had previously closed at GBX 24.90.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Peel Hunt reaffirmed a “buy” rating and issued a GBX 55 price target on shares of Pharos Energy in a report on Tuesday, December 9th. Shore Capital Group reaffirmed a “house stock” rating on shares of Pharos Energy in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of GBX 55.

Pharos Energy Price Performance

The company has a market cap of £106.43 million, a PE ratio of 25.80, a P/E/G ratio of -0.02 and a beta of 0.50. The company has a 50-day moving average price of GBX 22.44 and a two-hundred day moving average price of GBX 21.45. The company has a debt-to-equity ratio of 0.07, a current ratio of 5.25 and a quick ratio of 1.72.

Insiders Place Their Bets

In related news, insider Sue Rivett sold 4,030 shares of Pharos Energy stock in a transaction on Friday, February 27th. The shares were sold at an average price of GBX 24, for a total transaction of £967.20. Also, insider Katherine Roe purchased 6,764 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The shares were bought at an average cost of GBX 22 per share, with a total value of £1,488.08. Over the last ninety days, insiders have purchased 23,795 shares of company stock valued at $485,834. Company insiders own 16.44% 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.