Pharos Energy (LON:PHAR) Sets New 52-Week High – Time to Buy?

Pharos Energy plc (LON:PHAR)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as GBX 29.50 and last traded at GBX 28.90, with a volume of 1243844 shares trading hands. The stock had previously closed at GBX 28.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PHAR. Peel Hunt reissued a “buy” rating and set a GBX 55 price target on shares of Pharos Energy in a report on Tuesday, December 9th. Shore Capital Group reaffirmed a “house stock” rating on shares of Pharos Energy in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of GBX 55.

Pharos Energy Stock Performance

The stock has a market capitalization of £119.22 million, a PE ratio of 28.90, a price-to-earnings-growth ratio of -0.02 and a beta of 0.50. The business’s 50-day moving average is GBX 24.10 and its two-hundred day moving average is GBX 21.95.

Insider Activity

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