Pharos Energy (LON:PHAR) Sets New 52-Week High – Here’s What Happened

Shares of Pharos Energy plc (LON:PHAR) reached a new 52-week high on Wednesday . The stock traded as high as GBX 30.90 and last traded at GBX 30.90, with a volume of 810599 shares changing hands. The stock had previously closed at GBX 28.90.

Wall Street Analysts Forecast Growth

Separately, Shore Capital Group reiterated a “house stock” rating and issued a GBX 38 price objective on shares of Pharos Energy in a research note on Monday. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of GBX 46.50.

Pharos Energy Price Performance

The business’s 50 day moving average price is GBX 27.96 and its 200-day moving average price is GBX 24.33. The company has a market cap of £127.96 million, a P/E ratio of -19.31, a PEG ratio of -0.02 and a beta of 0.30.

Insider Buying and Selling

In other news, insider Sue Rivett bought 3,546 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was bought at an average price of GBX 28 per share, for a total transaction of £992.88. Also, insider Katherine Roe bought 5,355 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was purchased at an average price of GBX 28 per share, with a total value of £1,499.40. Insiders bought 12,383 shares of company stock valued at $346,724 in the last quarter. 15.75% of the stock is currently owned by corporate insiders.

Pharos Energy Company Profile

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.