Shore Capital Reaffirms Buy Rating for Pharos Energy (LON:PHAR)

Shore Capital reiterated their buy rating on shares of Pharos Energy (LON:PHAR) in a report published on Thursday, Marketbeat reports.

Pharos Energy Trading Down 0.4 %

Shares of PHAR opened at GBX 23.90 ($0.30) on Thursday. The stock has a market cap of £99.86 million, a PE ratio of -265.56, a price-to-earnings-growth ratio of -0.02 and a beta of 1.60. Pharos Energy has a 52-week low of GBX 18.05 ($0.23) and a 52-week high of GBX 25 ($0.32). The firm’s fifty day moving average is GBX 22.39 and its two-hundred day moving average is GBX 21.60. The company has a quick ratio of 1.72, a current ratio of 2.02 and a debt-to-equity ratio of 14.99.

Pharos Energy Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, July 19th. Stockholders of record on Thursday, June 13th will be issued a dividend of GBX 0.77 ($0.01) per share. This is a boost from Pharos Energy’s previous dividend of $0.33. This represents a dividend yield of 3.67%. The ex-dividend date of this dividend is Thursday, June 13th. Pharos Energy’s payout ratio is currently -2,222.22%.

Insider Activity at Pharos Energy

In other news, insider Sue Rivett purchased 4,607 shares of the stock in a transaction dated Wednesday, March 27th. The shares were purchased at an average price of GBX 21 ($0.27) per share, with a total value of £967.47 ($1,229.63). In other news, insider Sue Rivett purchased 4,607 shares of Pharos Energy stock in a transaction dated Wednesday, March 27th. The shares were purchased at an average price of GBX 21 ($0.27) per share, with a total value of £967.47 ($1,229.63). Also, insider Jann M. Brown acquired 33,305 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was acquired at an average price of GBX 20 ($0.25) per share, with a total value of £6,661 ($8,465.94). Over the last 90 days, insiders purchased 42,037 shares of company stock valued at $861,847. 52.81% of the stock is currently owned by insiders.

Pharos Energy Company Profile

Pharos Energy plc, an independent energy company, engages in the exploration, development, and production of oil and gas properties in Vietnam, Egypt, and China. The company was formerly known as SOCO International plc and changed its name to Pharos Energy plc in October 2019. Pharos Energy plc was incorporated in 1997 and is headquartered in London, the United Kingdom.