Pantheon Resources (LON:PANR) Shares Pass Above 200-Day Moving Average – What’s Next?

Shares of Pantheon Resources Plc (LON:PANR) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 42.16 ($0.56) and traded as high as GBX 42.60 ($0.57). Pantheon Resources shares last traded at GBX 41 ($0.55), with a volume of 3,696,587 shares.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 86 ($1.14) price objective on shares of Pantheon Resources in a report on Monday, March 24th.

Pantheon Resources Trading Down 1.0%

The business’s 50-day moving average is GBX 49.81 and its two-hundred day moving average is GBX 42.30. The company has a current ratio of 0.79, a quick ratio of 20.28 and a debt-to-equity ratio of 7.35. The stock has a market capitalization of £579.91 million, a PE ratio of -37.88 and a beta of -0.36.

Insider Buying and Selling

In other news, insider Linda Havard acquired 21,000 shares of the firm’s stock in a transaction on Wednesday, March 26th. The stock was bought at an average cost of GBX 70 ($0.93) per share, with a total value of £14,700 ($19,563.48). 10.15% of the stock is owned by corporate insiders.

About Pantheon Resources

Pantheon Resources plc is an AIM listed Oil & Gas company focused on developing the Ahpun and Kodiak fields located on state land on the Alaska North Slope (“ANS”), onshore USA where, following issue of the new leases, it will have a 100% working interest in c. 259,000 acres. Certified contingent resources attributable to these projects exceeds 1 billion barrels of marketable liquids, located adjacent to Alaska’s Trans Alaska Pipeline System (“TAPS”).

Pantheon’s stated objective is to demonstrate sustainable market recognition of a value of $5-$10/bbl of recoverable resources by end 2028.