Shore Capital Reaffirms Buy Rating for Pharos Energy (LON:PHAR)

Shore Capital reiterated their buy rating on shares of Pharos Energy (LON:PHAR) in a research report released on Thursday morning, Marketbeat reports.

Pharos Energy Stock Performance

Shares of PHAR opened at GBX 23.90 ($0.30) on Thursday. The business has a 50-day simple moving average of GBX 22.39 and a two-hundred day simple moving average of GBX 21.61. The company has a quick ratio of 1.72, a current ratio of 2.02 and a debt-to-equity ratio of 14.99. Pharos Energy has a 52 week low of GBX 18.05 ($0.23) and a 52 week high of GBX 25 ($0.32). The stock has a market cap of £99.86 million, a price-to-earnings ratio of -265.56, a PEG ratio of -0.02 and a beta of 1.60.

Pharos Energy Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, July 19th. Shareholders of record on Thursday, June 13th will be given a dividend of GBX 0.77 ($0.01) per share. The ex-dividend date is Thursday, June 13th. This represents a yield of 3.67%. This is a positive change from Pharos Energy’s previous dividend of $0.33. Pharos Energy’s dividend payout ratio (DPR) is -2,222.22%.

Insider Buying and Selling at Pharos Energy

In other news, insider Sue Rivett bought 4,607 shares of Pharos Energy stock in a transaction dated Wednesday, March 27th. The shares were acquired at an average price of GBX 21 ($0.27) per share, with a total value of £967.47 ($1,229.63). In related news, insider Jann M. Brown purchased 33,305 shares of Pharos Energy stock in a transaction that occurred on Tuesday, February 27th. The shares were bought at an average price of GBX 20 ($0.25) per share, with a total value of £6,661 ($8,465.94). Also, insider Sue Rivett bought 4,607 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were acquired at an average cost of GBX 21 ($0.27) per share, for a total transaction of £967.47 ($1,229.63). Insiders acquired 42,037 shares of company stock worth $861,847 over the last 90 days. 52.81% of the stock is owned by insiders.

Pharos Energy Company Profile

Pharos Energy plc, an independent energy company, engages in the exploration, development, and production of oil and gas properties in Vietnam, Egypt, and China. The company was formerly known as SOCO International plc and changed its name to Pharos Energy plc in October 2019. Pharos Energy plc was incorporated in 1997 and is headquartered in London, the United Kingdom.