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

Pharos Energy plc (LON:PHAR)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as GBX 31 and last traded at GBX 29.20, with a volume of 1465647 shares traded. The stock had previously closed at GBX 28.

Wall Street Analysts Forecast Growth

Separately, Shore Capital Group reissued a “house stock” rating and issued a GBX 36 price target on shares of Pharos Energy in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of GBX 45.50.

Pharos Energy Stock Up 4.3%

The company has a market capitalization of £120.92 million, a PE ratio of -18.25, a price-to-earnings-growth ratio of -0.02 and a beta of 0.30. The business’s 50 day simple moving average is GBX 27.36 and its 200 day simple moving average is GBX 23.36.

Insider Buying and Selling

In other news, insider Sue Rivett acquired 3,482 shares of Pharos Energy stock in a transaction on Monday, April 27th. The stock was bought at an average cost of GBX 28 per share, with a total value of £974.96. Corporate 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.