Pharos Energy (LON:PHAR) Trading Up 20.6% – Time to Buy?

Shares of Pharos Energy plc (LON:PHAR) rose 20.6% during mid-day trading on Tuesday . The stock traded as high as GBX 23.50 ($0.30) and last traded at GBX 22.97 ($0.30). Approximately 709,355 shares were traded during trading, an increase of 116% from the average daily volume of 328,853 shares. The stock had previously closed at GBX 19.05 ($0.25).

Wall Street Analyst Weigh In

Separately, Shore Capital reaffirmed a “house stock” rating on shares of Pharos Energy in a research report on Thursday, January 23rd.

Pharos Energy Trading Down 3.1 %

The company has a quick ratio of 1.72, a current ratio of 2.02 and a debt-to-equity ratio of 14.99. The company has a market capitalization of £111.61 million, a P/E ratio of -2.38, a price-to-earnings-growth ratio of -0.02 and a beta of 1.61. The business has a fifty day moving average price of GBX 23.94 and a 200 day moving average price of GBX 23.58.

Pharos Energy Increases Dividend

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

Insider Transactions at Pharos Energy

In other Pharos Energy news, insider Sue Rivett acquired 4,123 shares of Pharos Energy stock in a transaction dated Friday, December 27th. The stock was bought at an average cost of GBX 24 ($0.31) per share, for a total transaction of £989.52 ($1,274.01). Insiders acquired 11,922 shares of company stock valued at $293,724 in the last ninety days. 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.