Pharos Energy (LON:PHAR) Hits New 52-Week Low – Here’s What Happened

Pharos Energy plc (LON:PHAR) hit a new 52-week low on Friday . The stock traded as low as GBX 18.55 ($0.24) and last traded at GBX 18.90 ($0.25), with a volume of 306305 shares changing hands. The stock had previously closed at GBX 20 ($0.26).

Analysts Set New Price Targets

Separately, Shore Capital reiterated a “house stock” rating on shares of Pharos Energy in a research report on Tuesday.

Pharos Energy Price Performance

The business’s 50 day simple moving average is GBX 23.33 and its 200-day simple moving average is GBX 23.45. The stock has a market capitalization of £94.28 million, a price-to-earnings ratio of -2.01, a P/E/G ratio of -0.02 and a beta of 1.61. The company has a quick ratio of 1.72, a current ratio of 2.02 and a debt-to-equity ratio of 14.99.

Pharos Energy Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, June 12th will be given a dividend of GBX 0.85 ($0.01) per share. This is an increase from Pharos Energy’s previous dividend of $0.36. This represents a yield of 3.67%. The ex-dividend date of this dividend is Thursday, June 12th. Pharos Energy’s payout ratio is currently -10.64%.

Insider Buying and Selling at Pharos Energy

In other news, insider Sue Rivett purchased 3,798 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were purchased at an average cost of GBX 26 ($0.34) per share, with a total value of £987.48 ($1,293.87). In the last quarter, insiders have acquired 11,917 shares of company stock valued at $293,604. 51.33% 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.