Pharos Energy (LON:PHAR) Shares Up 20.6% – Here’s Why

Pharos Energy plc (LON:PHAR)’s share price traded up 20.6% during trading on Tuesday . The stock traded as high as GBX 23.50 ($0.30) and last traded at GBX 22.97 ($0.30). 709,355 shares changed hands during trading, an increase of 116% from the average session volume of 328,853 shares. The stock had previously closed at GBX 19.05 ($0.25).

Analyst Ratings Changes

Separately, Shore Capital restated a “house stock” rating on shares of Pharos Energy in a research report on Thursday, January 23rd.

Pharos Energy Price Performance

The company has a debt-to-equity ratio of 14.99, a quick ratio of 1.72 and a current ratio of 2.02. The company has a market capitalization of £111.61 million, a price-to-earnings ratio of -2.38, a price-to-earnings-growth ratio of -0.02 and a beta of 1.61. The company has a 50-day moving average price of GBX 23.94 and a 200-day moving average price of GBX 23.58.

Pharos Energy Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, June 12th will be issued a dividend of GBX 0.85 ($0.01) per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a yield of 3.67%. This is a boost from Pharos Energy’s previous dividend of $0.36. Pharos Energy’s payout ratio is currently -10.64%.

Insiders Place Their Bets

In other Pharos Energy news, insider Sue Rivett purchased 4,001 shares of the stock in a transaction on Thursday, February 27th. The stock was bought at an average cost of GBX 24 ($0.31) per share, for a total transaction of £960.24 ($1,236.31). Over the last three months, insiders have bought 11,922 shares of company stock worth $293,724. Company insiders own 51.33% 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.