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

Pharos Energy plc (LON:PHAR) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as GBX 29.80 and last traded at GBX 28, with a volume of 548576 shares changing hands. The stock had previously closed at GBX 28.20.

Analyst Upgrades and Downgrades

Separately, Shore Capital Group reiterated a “house stock” rating on shares of Pharos Energy in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 55.

Pharos Energy Stock Performance

The firm’s 50-day simple moving average is GBX 26.92 and its 200-day simple moving average is GBX 22.98. The company has a market capitalization of £114.71 million, a price-to-earnings ratio of -17.31, a price-to-earnings-growth ratio of -0.02 and a beta of 0.33.

Insider Buying and Selling at Pharos Energy

In other news, insider Sue Rivett bought 3,482 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The shares were acquired at an average cost of GBX 28 per share, with a total value of £974.96. 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.