Pharos Energy (PHAR)

Sector:

Energy Producers

Index:

FTSE Small Cap

15.06p
   
  • Change Today:
      0.060p
  • 52 Week High: 70.20
  • 52 Week Low: 10.40
  • Currency: UK Pounds
  • Shares Issued: 397.52m
  • Volume: 1,171,732
  • Market Cap: £59.87m
  • RiskGrade: 621

Barclays names Ophir Energy 'top-pick', upgrades Premier Oil

By Alexander Bueso

Date: Tuesday 21 Jun 2016

LONDON (ShareCast) - (ShareCast News) - Analysts at Barclays re-jigged their recommendations on European Exploration and Production companies in order to take into account the recent rise in crude oil prices and improved investor sentiment regarding companies´ ability to execute to plan operationally.


In the process they upgraded their recommendation on shares of Ophir Energy and Premier Oil while downgrading stock in Det Norske, Genel and Ithaca Energy.

"Those two points appear to have been enough to see many investors revisit the sector with more forward-looking optimism in recent months and increasingly ascribe value to delivery of 2016 operational goals," the analysts said in a research note sent to clients on 21 June.

With crude oil futures having recovered to $50 per barrel, equity analysts at Barclays opted to 'mark-to-market' their price assumptions, increasing their 2016 Brent forecast to $44 a barrel and nudging their 2017 estimate from $55 a barrel to $57.

The broker also continued to factor in a gradual recovery in oil to $70 per barrel from 2018 onwards.

On the basis of the above, it rollowed forward its net asset value estimates by one year to the end of 2016. As a result, Ophir Energy was now their 'top-pick' and not DNO, Premier Oil was upgraded from 'equal-weight' to 'overweight' and Tullow Oil kept at 'overweight'.

Det Norske was downgraded from 'equalweight' to 'underweight, Genel Energy from 'overweight' to 'underweight', Ithaca Energy from 'overweight' to 'equalweight' and Soco International kept at 'underweight'.

Ithaca Energy and Premier Oil saw the largest uplift to their estimates of tangible NAV - the primary driver of their target prices - while Ophir Energy and DNO continued to trade at the "deepest discounts" to tangible NAV (49% and 37%, respectively), which reflected stock-specific factors that Barclays believed both companies could continue to address over coming months.

In the case of Enquest, Barclays pointed out its investments in projects with "sub-optimal returns in the current oil price environments", whereas reduced levels of activity were weighing down on Bowleven, Faroe Petroleum and Soco International.

Barclays stuck to its 'neutral' stance on the European E&P sector.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Pharos Energy Market Data

Currency UK Pounds
Share Price 15.06p
Change Today 0.060p
% Change 0.40 %
52 Week High 70.20
52 Week Low 10.40
Volume 1,171,732
Shares Issued 397.52m
Market Cap £59.87m
RiskGrade 621

Pharos Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
44.13% above the market average44.13% above the market average44.13% above the market average44.13% above the market average44.13% above the market average
21.74% above the sector average21.74% above the sector average21.74% above the sector average21.74% above the sector average21.74% above the sector average
Price Trend
95.53% below the market average95.53% below the market average95.53% below the market average95.53% below the market average95.53% below the market average
76% below the sector average76% below the sector average76% below the sector average76% below the sector average76% below the sector average
Income Not Available
Growth
7.05% above the market average7.05% above the market average7.05% above the market average7.05% above the market average7.05% above the market average
57.38% below the sector average57.38% below the sector average57.38% below the sector average57.38% below the sector average57.38% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 2
Sell 0
Strong Sell 3
Total 6
sell
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Pharos Energy Dividends

  Latest Previous
  Final Final
Ex-Div 09-May-19 24-May-18
Paid 31-May-19 15-Jun-18
Amount 5.50p 5.25p

Trades for 26-May-2020

Time Volume / Share Price
16:35 22,607 @ 15.06p
16:29 58 @ 15.04p
16:29 2,862 @ 15.04p
16:29 282 @ 15.04p
16:29 863 @ 15.04p

Pharos Energy Key Personnel

CEO Ed Story
CFO Jann M Brown
Chair John Martin

Top of Page