Pharos Energy (LON:PHAR) Reaches New 52-Week High – Still a Buy?

Pharos Energy plc (LON:PHAR) reached a new 52-week high during trading on Monday . The company traded as high as GBX 28 and last traded at GBX 26.50, with a volume of 1751201 shares trading hands. The stock had previously closed at GBX 24.90.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. 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. Shore Capital Group reissued a “house stock” rating on shares of Pharos Energy in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of GBX 55.

Pharos Energy Trading Up 6.4%

The company has a debt-to-equity ratio of 0.07, a current ratio of 5.25 and a quick ratio of 1.72. The business’s 50-day simple moving average is GBX 22.17 and its two-hundred day simple moving average is GBX 21.38. The stock has a market capitalization of £109.32 million, a price-to-earnings ratio of 26.50, a PEG ratio of -0.02 and a beta of 0.50.

Insider Buying and Selling

In other news, insider Katherine Roe acquired 7,552 shares of the company’s stock in a transaction dated Tuesday, December 30th. The shares were bought at an average price of GBX 19 per share, for a total transaction of £1,434.88. Also, insider Sue Rivett bought 5,000 shares of Pharos Energy stock in a transaction dated Tuesday, December 30th. The shares were purchased at an average cost of GBX 19 per share, for a total transaction of £950. In the last 90 days, insiders acquired 23,795 shares of company stock valued at $485,834. 16.44% of the stock is owned by company 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.