Pantheon Resources (LON:PANR) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

Pantheon Resources Plc (LON:PANR) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 28.97 ($0.39) and traded as low as GBX 25.65 ($0.34). Pantheon Resources shares last traded at GBX 26.10 ($0.35), with a volume of 6,107,232 shares traded.

Wall Street Analysts Forecast Growth

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

Pantheon Resources Trading Up 3.2%

The stock has a 50 day simple moving average of GBX 27.30 and a 200-day simple moving average of GBX 28.97. The firm has a market capitalization of £359.62 million, a P/E ratio of -26.68 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.

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.