Pharos Energy (LON:PHAR) Shares Down 1.2% – What’s Next?

Shares of Pharos Energy plc (LON:PHAR) dropped 1.2% during trading on Thursday . The company traded as low as GBX 25.20 and last traded at GBX 25.30. 724,011 shares were traded during mid-day trading, an increase of 8% from the average daily volume of 669,641 shares. The stock had previously closed at GBX 25.60.

Wall Street Analysts Forecast Growth

Separately, Shore Capital Group restated a “house stock” rating and issued a GBX 38 price target on shares of Pharos Energy in a research note on Monday, June 8th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of GBX 46.50.

Pharos Energy Price Performance

The stock has a market cap of £102.70 million, a P/E ratio of -15.50, a price-to-earnings-growth ratio of -0.02 and a beta of 0.32. The stock’s 50-day moving average is GBX 26.67 and its two-hundred day moving average is GBX 25.62.

Insider Activity at Pharos Energy

In other news, insider Sue Rivett acquired 3,546 shares of Pharos Energy stock in a transaction on Wednesday, May 27th. The shares were acquired at an average price of GBX 28 per share, with a total value of £992.88. Also, insider Katherine Roe acquired 5,355 shares of Pharos Energy stock in a transaction on Wednesday, May 27th. The stock was purchased at an average cost of GBX 28 per share, for a total transaction of £1,499.40. Insiders have acquired a total of 12,383 shares of company stock valued at $346,724 in the last 90 days. 15.75% of the stock is currently owned by company insiders.

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.