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

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

Analyst Ratings Changes

Separately, Shore Capital Group reiterated a “house stock” rating and issued a GBX 38 target price on shares of Pharos Energy in a research note on Monday, June 8th. One 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 a consensus target price of GBX 46.50.

Pharos Energy Stock Performance

The company has a market cap of £103.53 million, a P/E ratio of -15.62, a price-to-earnings-growth ratio of -0.02 and a beta of 0.31. The business’s fifty day moving average is GBX 27.43 and its two-hundred day moving average is GBX 25.07.

Insider Buying and Selling

In related news, insider Katherine Roe bought 5,355 shares of Pharos Energy stock in a transaction dated Wednesday, May 27th. The shares were acquired at an average cost of GBX 28 per share, with a total value of £1,499.40. Also, insider Sue Rivett purchased 3,546 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were bought at an average cost of GBX 28 per share, with a total value of £992.88. Over the last ninety days, insiders have bought 12,383 shares of company stock worth $346,724. 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.