Pharos Energy (LON:PHAR) Shares Up 1.1% – Here’s Why

Pharos Energy plc (LON:PHAR) shot up 1.1% during mid-day trading on Tuesday . The company traded as high as GBX 22.65 ($0.29) and last traded at GBX 22.65 ($0.29). 225,669 shares traded hands during trading, a decline of 14% from the average session volume of 263,510 shares. The stock had previously closed at GBX 22.40 ($0.28).

Wall Street Analysts Forecast Growth

Separately, Shore Capital reaffirmed a “house stock” rating on shares of Pharos Energy in a research report on Tuesday, September 10th.

Pharos Energy Price Performance

The company has a current ratio of 2.84, a quick ratio of 1.72 and a debt-to-equity ratio of 5.01. The business’s fifty day moving average is GBX 23.29 and its 200 day moving average is GBX 23.99. The company has a market cap of £93.51 million, a P/E ratio of -755.00, a PEG ratio of -0.02 and a beta of 1.61.

Pharos Energy Cuts Dividend

The company also recently announced a dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Thursday, December 19th will be given a GBX 0.36 ($0.00) dividend. This represents a yield of 1.53%. The ex-dividend date of this dividend is Thursday, December 19th. Pharos Energy’s dividend payout ratio is currently -3,333.33%.

Insider Activity

In other Pharos Energy news, insider Katherine Roe bought 6,403 shares of the stock in a transaction on Monday, October 28th. The shares were acquired at an average price of GBX 23 ($0.29) per share, with a total value of £1,472.69 ($1,868.90). Also, insider Sue Rivett purchased 3,724 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was bought at an average cost of GBX 26 ($0.33) per share, with a total value of £968.24 ($1,228.73). Insiders have bought 14,071 shares of company stock valued at $342,693 in the last 90 days. Insiders own 51.33% of the company’s stock.

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.