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

Pantheon Resources Plc (LON:PANR) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred 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.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group dropped their price target on shares of 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 equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of GBX 66.

Pantheon Resources Stock Up 7.6%

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

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.