Pharos Energy (PHAR)

Sector:

Energy Producers

Index:

FTSE Small Cap

14.58p
   
  • Change Today:
      0.080p
  • 52 Week High: 70.20p
  • 52 Week Low: 10.40p
  • Currency: UK Pounds
  • Shares Issued: 397.52m
  • Volume: 3,868,364
  • Market Cap: £57.96m
  • RiskGrade: 586

Barclays cuts Brent oil price forecasts, likes Lundin, Cairn Energy, Ophir

By Alexander Bueso

Date: Tuesday 11 Apr 2017

LONDON (ShareCast) - (ShareCast News) - Analysts at Barclays lowered their target prices for a broad swathe of European Oil &Gas explorers and producers as they marked down their short and medium-term assumptions for the Brent price deck.
The broker lowered its assumptions for the price of Brent in 2017 and 2018 from $57 and $70 a barrel to $56 and $67 a barrel, respectively.

From 2019 onwards, Brent was now seen at $60 a barrel, down from $70 before.

"Although we continue to believe in a continued recovery in oil through 2017-18E, we now feel $60 is a more appropriate long-term assumption, better reflecting the planning assumption of management teams (and investors) assessing future investment opportunities," analyst James Hosie said in a research note sent to clients.

The average result of those revisions was a 21% reduction in his estimates for the group's tangible net asset value.

Furthermore, the new price targets which flowed on from those revisions meant the average upside potential for stocks in the group was reduced from 21.0% to 9.0%.

Lundin Petroleum continued to be his 'top-pick', with Hosie touting the outfit's "high-quality" Norwegian production and development portfolio and strong financial position.

Its other 'Overweight' recommendations were Africa Oil, Amerisur Resources, Cairn Energy and Ophir Energy.

Hosie lowered his target prices for Cairn Energy (from 295p to 270p), Enquest (from 53p to 54p), Faroe Petroleum (from 115p to 110p), Ophir Energy (from 125p to 110p), Premier Oil (from 100p to 70p) and for Soco (from 155p to 140p).

The analyst did raise his target on Genel Energy, from 70p to 95p.

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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 14.58p
Change Today 0.080p
% Change 0.55 %
52 Week High 70.20p
52 Week Low 10.40p
Volume 3,868,364
Shares Issued 397.52m
Market Cap £57.96m
RiskGrade 586

Pharos Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
44.09% above the market average44.09% above the market average44.09% above the market average44.09% above the market average44.09% above the market average
15.56% above the sector average15.56% above the sector average15.56% above the sector average15.56% above the sector average15.56% 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
72% below the sector average72% below the sector average72% below the sector average72% below the sector average72% below the sector average
Income Not Available
Growth
6.91% above the market average6.91% above the market average6.91% above the market average6.91% above the market average6.91% 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 29-May-2020

Time Volume / Share Price
16:47 605,268 @ 14.58p
16:51 2,944 @ 14.58p
16:35 2,863,960 @ 14.58p
16:29 200 @ 14.20p
16:29 303 @ 13.78p

Pharos Energy Key Personnel

CEO Ed Story
CFO Jann M Brown
Chair John Martin

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