Pharos Energy (LON:PHAR) Trading Down 2.1% - Here's What Happened

Pharos Energy plc (LON:PHAR - Get Free Report) shares traded down 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). 354,186 shares were traded during trading, an increase of 32% from the average session volume of 267,878 shares. The stock had previously closed at GBX 24 ($0.31).

Wall Street Analysts Forecast Growth

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

Pharos Energy Trading Down 2.1 %

The stock has a market cap of £97.02 million, a price-to-earnings ratio of -783.33, a PEG ratio of -0.02 and a beta of 1.61. The company has a quick ratio of 1.72, a current ratio of 2.84 and a debt-to-equity ratio of 5.01. The business has a 50-day moving average of GBX 24.60 and a 200-day moving average of GBX 24.09.

Pharos Energy Cuts Dividend

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

Insider Buying and Selling at Pharos Energy

In related news, insider Sue Rivett bought 3,724 shares of the business's stock in a transaction on Tuesday, August 27th. The shares were bought at an average cost of GBX 26 ($0.34) per share, for a total transaction of £968.24 ($1,257.13). Insiders have purchased a total of 11,350 shares of company stock worth $291,156 over the last three months. Corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.