Pharos Energy (LON:PHAR) Hits New 1-Year High – Here’s What Happened

Pharos Energy plc (LON:PHAR)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as GBX 29.80 and last traded at GBX 28, with a volume of 548576 shares changing hands. The stock had previously closed at GBX 28.20.

Analysts Set New Price Targets

Separately, Shore Capital Group reaffirmed a “house stock” rating on shares of Pharos Energy in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Pharos Energy has a consensus rating of “Buy” and an average price target of GBX 55.

Pharos Energy Stock Performance

The business’s 50-day moving average is GBX 26.85 and its two-hundred day moving average is GBX 22.94. The stock has a market capitalization of £115.95 million, a PE ratio of -17.50, a price-to-earnings-growth ratio of -0.02 and a beta of 0.33.

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 value of £967.20. 16.44% of the stock is currently owned by company insiders.

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.