Pantheon Resources (LON:PANR) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Pantheon Resources Plc (LON:PANR) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 23.12 and traded as low as GBX 7.76. Pantheon Resources shares last traded at GBX 7.90, with a volume of 8,522,791 shares traded.

Analyst Upgrades and Downgrades

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

Pantheon Resources Stock Performance

The business has a 50-day moving average price of GBX 17.88 and a 200-day moving average price of GBX 23.12. The company has a quick ratio of 20.28, a current ratio of 0.79 and a debt-to-equity ratio of 7.35. The firm has a market capitalization of £103.81 million, a price-to-earnings ratio of -20.26 and a beta of -0.36.

Pantheon Resources Company Profile

Pantheon Resources plc is an AIM listed Oil & Gas company focused on developing its 100% owned Ahpun and Kodiak fields located on State of Alaska land on the North Slope, onshore USA. Independently certified best estimate contingent recoverable resources attributable to these projects currently total c. 1.6 billion barrels of ANS crude and 6.6 Tcf of associated natural gas. The Company owns 100% working interest in c. 259,000 acres.

Pantheon’s stated objective is to demonstrate sustainable market recognition of a value of approximately $5 per barrel of recoverable resources by end 2028.