Pharos Energy (LON:PHAR) Stock Price Up 0.9% – Should You Buy?

Shares of Pharos Energy plc (LON:PHAR) rose 0.9% during trading on Wednesday . The stock traded as high as GBX 24.74 and last traded at GBX 23.10. 777,451 shares traded hands during trading, an increase of 67% from the average daily volume of 465,904 shares. The stock had previously closed at GBX 22.90.

Wall Street Analysts Forecast Growth

PHAR has been the topic of a number of research reports. Shore Capital Group restated a “house stock” rating on shares of Pharos Energy in a report on Thursday, January 22nd. Peel Hunt reissued a “buy” rating and set a GBX 55 price objective on shares of Pharos Energy in a research note on Tuesday, December 9th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Pharos Energy currently has an average rating of “Buy” and a consensus target price of GBX 55.

Pharos Energy Stock Performance

The firm has a market cap of £95.30 million, a PE ratio of 23.10, a price-to-earnings-growth ratio of -0.02 and a beta of 1.61. The business has a 50 day simple moving average of GBX 21.11 and a two-hundred day simple moving average of GBX 21.09. The company has a quick ratio of 1.72, a current ratio of 2.02 and a debt-to-equity ratio of 14.99.

Insider Activity

In related news, insider Sue Rivett bought 4,479 shares of Pharos Energy stock in a transaction dated Tuesday, January 27th. The shares were acquired at an average cost of GBX 22 per share, with a total value of £985.38. Also, insider Katherine Roe purchased 6,764 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The shares were bought at an average cost of GBX 22 per share, with a total value of £1,488.08. Over the last three months, insiders acquired 36,079 shares of company stock valued at $731,514. 16.44% of the stock is owned by corporate insiders.

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.