Pharos Energy (LON:PHAR) Trading 5.5% Higher - Time to Buy?

Key Points

• Pharos Energy's stock price rose by 5.5% to GBX 23 ($0.31) on Thursday, recovering from a previous close of GBX 21.80 ($0.30).
• Despite the price increase, trading volume was down 88% compared to its average session, with only 46,877 shares exchanged.
• Insiders have shown confidence in the company, purchasing 33,752 shares valued at $731,033 over the last three months, representing 16.45% ownership of the company.

Shares of Pharos Energy plc (LON:PHAR - Get Free Report) traded up 5.5% during trading on Thursday . The company traded as high as GBX 23.10 ($0.31) and last traded at GBX 23 ($0.31). 46,877 shares were traded during trading, a decline of 88% from the average session volume of 386,001 shares. The stock had previously closed at GBX 21.80 ($0.29).

Analyst Ratings Changes

Separately, Shore Capital reissued a "house stock" rating on shares of Pharos Energy in a research report on Thursday, July 17th.

Pharos Energy Price Performance

The company has a debt-to-equity ratio of 14.99, a current ratio of 2.02 and a quick ratio of 1.72. The stock's 50 day simple moving average is GBX 21.53 and its two-hundred day simple moving average is GBX 20.73. The stock has a market cap of £89.74 million, a price-to-earnings ratio of 403.52, a P/E/G ratio of -0.02 and a beta of 1.61.

Insider Transactions at Pharos Energy

In other Pharos Energy news, insider Sue Rivett purchased 4,586 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was acquired at an average cost of GBX 21 per share, with a total value of £963.06. Also, insider Katherine Roe purchased 6,925 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was acquired at an average cost of GBX 21 per share, with a total value of £1,454.25. Insiders purchased 33,752 shares of company stock valued at $731,033 over the last ninety days. 16.45% of the stock is currently owned by company insiders.

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.