Pharos Energy (LON:PHAR) Shares Up 27.4% – Still a Buy?

Pharos Energy plc (LON:PHAR) shares traded up 27.4% on Monday . The stock traded as high as GBX 33.20 and last traded at GBX 31.60. Approximately 10,978,908 shares changed hands during mid-day trading, an increase of 1,387% from the average daily volume of 738,128 shares. The stock had previously closed at GBX 24.80.

Analysts Set New Price Targets

Separately, Shore Capital Group reaffirmed a “house stock” rating and issued a GBX 38 price target on shares of Pharos Energy in a report on Monday, June 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of GBX 46.50.

Pharos Energy Trading Up 27.4%

The company’s 50-day moving average is GBX 26.67 and its 200 day moving average is GBX 25.66. The stock has a market capitalization of £130.86 million, a PE ratio of -19.75, a price-to-earnings-growth ratio of -0.02 and a beta of 0.32.

Insider Buying and Selling

In related news, insider Sue Rivett purchased 3,546 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were acquired 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 firm’s stock in a transaction on Wednesday, May 27th. The stock was bought at an average cost of GBX 28 per share, with a total value of £1,499.40. Corporate insiders own 15.75% of the company’s stock.

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.