Pharos Energy (LON:PHAR) Reaches New 12-Month High – Should You Buy?

Pharos Energy plc (LON:PHAR)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 32.80 and last traded at GBX 31.50, with a volume of 37885 shares changing hands. The stock had previously closed at GBX 31.60.

Wall Street Analysts Forecast Growth

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

Pharos Energy Trading Up 6.3%

The firm’s 50-day simple moving average is GBX 27.24 and its 200 day simple moving average is GBX 26.32. The stock has a market cap of £138.73 million, a P/E ratio of -20.94, a PEG ratio of -0.02 and a beta of 0.32.

Insider Activity at Pharos Energy

In other Pharos Energy news, insider Sue Rivett acquired 3,546 shares of Pharos Energy stock in a transaction dated Wednesday, May 27th. The stock was acquired at an average cost of GBX 28 per share, for a total transaction of £992.88. Also, insider Katherine Roe acquired 5,355 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was acquired at an average cost of GBX 28 per share, with a total value of £1,499.40. 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.