Pharos Energy (LON:PHAR) Reaches New 1-Year High – Should You Buy?

Pharos Energy plc (LON:PHAR)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as GBX 28 and last traded at GBX 27.75, with a volume of 631118 shares traded. The stock had previously closed at GBX 27.20.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Shore Capital Group reaffirmed a “house stock” rating on shares of Pharos Energy in a report on Thursday, January 22nd. Peel Hunt restated a “buy” rating and issued a GBX 55 price objective on shares of Pharos Energy in a research report on Tuesday, December 9th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 55.

Pharos Energy Price Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.72 and a current ratio of 5.25. The stock’s fifty day moving average price is GBX 23.03 and its 200-day moving average price is GBX 21.61. The firm has a market cap of £114.48 million, a PE ratio of 27.75, a P/E/G ratio of -0.02 and a beta of 0.50.

Insider Buying and Selling at Pharos Energy

In related news, insider Sue Rivett sold 4,030 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of GBX 24, for a total transaction of £967.20. Also, insider Katherine Roe bought 6,764 shares of the stock in a transaction on Tuesday, January 27th. The stock was purchased at an average cost of GBX 22 per share, with a total value of £1,488.08. Insiders bought 23,795 shares of company stock worth $485,834 over the last 90 days. Company insiders own 16.44% of the company’s stock.

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.