Pharos Energy (LON:PHAR) Trading 1.2% Higher – What’s Next?

Pharos Energy plc (LON:PHAR)’s stock price traded up 1.2% during mid-day trading on Thursday . The company traded as high as GBX 25.40 and last traded at GBX 25. 1,930,698 shares traded hands during mid-day trading, an increase of 175% from the average session volume of 703,203 shares. The stock had previously closed at GBX 24.70.

Analysts Set New Price Targets

Separately, Shore Capital Group reiterated a “house stock” rating and set a GBX 38 target price on shares of Pharos Energy in a research report on Monday, June 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Pharos Energy presently has a consensus rating of “Buy” and a consensus target price of GBX 46.50.

Pharos Energy Trading Up 1.2%

The business’s 50 day simple moving average is GBX 27.43 and its 200 day simple moving average is GBX 25.07. The firm has a market capitalization of £103.53 million, a PE ratio of -15.62, a PEG ratio of -0.02 and a beta of 0.31.

Insider Transactions at Pharos Energy

In related news, insider Sue Rivett purchased 3,546 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was bought at an average price of GBX 28 per share, for a total transaction of £992.88. Also, insider Katherine Roe purchased 5,355 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was bought at an average price of GBX 28 per share, with a total value of £1,499.40. In the last ninety days, insiders purchased 12,383 shares of company stock valued at $346,724. 15.75% of the stock is owned by 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.