Pharos Energy (LON:PHAR) Reaches New 12-Month High – Still a Buy?

Pharos Energy plc (LON:PHAR) hit a new 52-week high on Wednesday . The company traded as high as GBX 28 and last traded at GBX 27.75, with a volume of 631118 shares traded. The stock had previously closed at GBX 27.20.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PHAR shares. Peel Hunt reaffirmed a “buy” rating and issued a GBX 55 price objective on shares of Pharos Energy in a research report on Tuesday, December 9th. Shore Capital Group reissued a “house stock” rating on shares of Pharos Energy in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of GBX 55.

Pharos Energy Stock Performance

The firm has a market cap of £115.51 million, a P/E ratio of 28.00, a P/E/G ratio of -0.02 and a beta of 0.50. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.72 and a current ratio of 5.25. The business’s 50-day simple moving average is GBX 23.33 and its 200 day simple moving average is GBX 21.71.

Insider Buying and Selling at Pharos Energy

In other Pharos Energy news, insider Sue Rivett sold 4,030 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of GBX 24, for a total value of £967.20. Also, insider Katherine Roe purchased 6,764 shares of the business’s stock in a transaction on Tuesday, January 27th. The shares were purchased at an average price of GBX 22 per share, with a total value of £1,488.08. Insiders purchased 23,795 shares of company stock valued at $485,834 in the last ninety days. 16.44% of the stock is currently owned by corporate 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.