Pharos Energy (LON:PHAR) Trading Down 2.1% – Here’s Why

Pharos Energy plc (LON:PHAR) shares dropped 2.1% during mid-day trading on Monday . The company traded as low as GBX 23 ($0.30) and last traded at GBX 23.50 ($0.31). Approximately 354,186 shares traded hands during trading, an increase of 32% from the average daily volume of 267,878 shares. The stock had previously closed at GBX 24 ($0.31).

Wall Street Analysts Forecast Growth

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

Pharos Energy Trading Up 1.1 %

The company has a market capitalization of £91.85 million, a P/E ratio of -741.67, a PEG ratio of -0.02 and a beta of 1.61. The company has a debt-to-equity ratio of 5.01, a current ratio of 2.84 and a quick ratio of 1.72. The business’s 50-day moving average price is GBX 24.50 and its two-hundred day moving average price is GBX 24.09.

Pharos Energy Cuts Dividend

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

Insiders Place Their Bets

In other Pharos Energy news, insider Sue Rivett acquired 3,724 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was acquired at an average cost of GBX 26 ($0.34) per share, for a total transaction of £968.24 ($1,257.13). Insiders acquired 11,350 shares of company stock worth $291,156 over the last ninety days. 51.33% of the stock is currently owned by corporate 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.