Pantheon Resources (LON:PANR) Shares Cross Below 200-Day Moving Average – Time to Sell?

Pantheon Resources Plc (LON:PANR) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 31.02 ($0.41) and traded as low as GBX 25.25 ($0.34). Pantheon Resources shares last traded at GBX 27.70 ($0.37), with a volume of 19,420,434 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lowered their price target on shares of Pantheon Resources from GBX 70 to GBX 66 and set a “speculative buy” rating for the company in a research report on Thursday, September 25th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of GBX 66.

Pantheon Resources Stock Performance

The firm has a market capitalization of £369.73 million, a P/E ratio of -2,742.57 and a beta of -0.36. 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 business’s 50 day simple moving average is GBX 26.94 and its two-hundred day simple moving average is GBX 31.02.

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.