Pharos Energy (LON:PHAR) Sets New 12-Month High – Here’s What Happened

Pharos Energy plc (LON:PHAR) shares reached a new 52-week high on Tuesday . The stock traded as high as GBX 29.50 and last traded at GBX 28, with a volume of 810201 shares trading hands. The stock had previously closed at GBX 28.40.

Analysts Set New Price Targets

Separately, Shore Capital Group reissued a “house stock” rating on shares of Pharos Energy in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of GBX 55.

Pharos Energy Price Performance

The business has a 50 day moving average of GBX 25.81 and a 200 day moving average of GBX 22.45. The firm has a market capitalization of £118.02 million, a price-to-earnings ratio of -17.81, a price-to-earnings-growth ratio of -0.02 and a beta of 0.33.

Insiders Place Their Bets

In other news, insider Katherine Roe bought 6,764 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The stock was acquired at an average cost of GBX 22 per share, for a total transaction of £1,488.08. Also, insider Sue Rivett bought 4,479 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The stock was purchased at an average price of GBX 22 per share, with a total value of £985.38. Corporate 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.