Pharos Energy (LON:PHAR) Trading 2% Higher – What’s Next?

Pharos Energy plc (LON:PHAR) shares shot up 2% on Wednesday . The stock traded as high as GBX 21.30 and last traded at GBX 21.16. 526,513 shares traded hands during mid-day trading, an increase of 55% from the average session volume of 340,374 shares. The stock had previously closed at GBX 20.75.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PHAR shares. Shore Capital reiterated a “house stock” rating on shares of Pharos Energy in a report on Tuesday, October 21st. Peel Hunt reaffirmed a “buy” rating and issued a GBX 55 target price on shares of Pharos Energy in a research report on Tuesday, December 9th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 55.

Pharos Energy Stock Up 2.0%

The company has a market cap of £87.31 million, a price-to-earnings ratio of 21.16, 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 quick ratio of 1.72 and a current ratio of 2.02. The stock’s fifty day moving average is GBX 20.33 and its two-hundred day moving average is GBX 20.98.

Insider Activity at Pharos Energy

In related news, insider Katherine Roe purchased 7,552 shares of the firm’s stock in a transaction that occurred on Tuesday, December 30th. The stock was acquired at an average price of GBX 19 per share, for a total transaction of £1,434.88. Also, insider Sue Rivett purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, December 30th. The stock was bought at an average cost of GBX 19 per share, with a total value of £950. Over the last three months, insiders bought 35,934 shares of company stock valued at $728,324. Company insiders own 16.43% of the company’s stock.

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.