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

Pharos Energy plc (LON:PHAR) shares reached a new 52-week high during trading on Wednesday . The company traded as high as GBX 25 and last traded at GBX 24.20, with a volume of 260260 shares changing hands. The stock had previously closed at GBX 24.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Peel Hunt reissued a “buy” rating and set a GBX 55 price objective on shares of Pharos Energy in a research note on Tuesday, December 9th. Shore Capital Group reaffirmed 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, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of GBX 55.

Pharos Energy Stock Performance

The company has a debt-to-equity ratio of 14.99, a quick ratio of 1.72 and a current ratio of 2.02. The stock has a fifty day simple moving average of GBX 21.67 and a two-hundred day simple moving average of GBX 21.25. The stock has a market cap of £101.07 million, a PE ratio of 24.50, a PEG ratio of -0.02 and a beta of 1.61.

Insiders Place Their Bets

In other news, insider Sue Rivett acquired 4,479 shares of the firm’s stock in a transaction on Tuesday, January 27th. The stock was bought at an average cost of GBX 22 per share, with a total value of £985.38. Also, insider Katherine Roe bought 6,764 shares of the stock in a transaction dated Tuesday, January 27th. The shares were acquired at an average price of GBX 22 per share, with a total value of £1,488.08. Over the last ninety days, insiders have purchased 23,795 shares of company stock valued at $485,834. Company 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.