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

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

Analyst Upgrades and Downgrades

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

Pharos Energy Trading Down 4.5%

The firm has a market capitalization of £116.70 million, a PE ratio of -17.61, a price-to-earnings-growth ratio of -0.02 and a beta of 0.31. The business has a 50-day moving average of GBX 28.04 and a 200 day moving average of GBX 24.47.

Insiders Place Their Bets

In other Pharos Energy news, insider Sue Rivett acquired 3,546 shares of Pharos Energy stock in a transaction on Wednesday, May 27th. The stock was purchased at an average price of GBX 28 per share, for a total transaction of £992.88. Also, insider Katherine Roe acquired 5,355 shares of Pharos Energy stock in a transaction on Wednesday, May 27th. The stock was acquired at an average price of GBX 28 per share, with a total value of £1,499.40. Insiders acquired a total of 12,383 shares of company stock valued at $346,724 in the last 90 days. Corporate insiders own 15.75% of the company’s stock.

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.