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

Jefferies lowers Brent oil price forecasts, downgrades Ophir Energy, Premier Oil

By Alexander Bueso

Date: Wednesday 17 May 2017

LONDON (ShareCast) - (ShareCast News) - Analysts at Jefferies revised their medium and long-term price assumptions for Brent oil lower, downgrading shares of Ophir Energy, Soco International and Premier Oil in the process.
The broker marked down its long-term assumption - for 2020 and beyond - for Brent by 18% to $70.0 per barrel.

Oil was now also seen lower in the short to medium-term; Jefferies marked down its 2018 oil price projection by 11% to $63.8 per barrel and that for 2019 by 21% to $67 per barrel.

"We believe the oil market is currently undersupplied and will remain so through 2017; however, we expect that the market will return to balance in 2018 as OPEC cuts expire and US production continues to grow."

Those changes drove a 21% reduction in total net asset values for Oil&Gas E&P stocks under its coverage.

Nonetheless, the peculiarities of each company in terms of their asset quality, operational delivery and balance sheets meant that on average the broker's target prices fell by a lesser 10%.

Even so, the broker downgraded its recommendations on Ophir Energy from 'hold' to 'underperform' and for Premier Oil from 'buy' to 'hold'.

In parallel, it cut its target prices for the pair from 95.0p to 75.0p and from 90.0p to 68.0p, respectively.

On Ophir and Soco International, Jefferies highlighted their "reliance on one dominant asset" whereas Premier Oil, Genel and Enquest´s producing fields and assets under development were not able to offset net debt if oil prices remained flat.

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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 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

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