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

Pantheon Resources Plc (LON:PANR) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 40.35 ($0.54) and traded as low as GBX 34.70 ($0.46). Pantheon Resources shares last traded at GBX 37.05 ($0.50), with a volume of 11,618,580 shares traded.

Analyst Ratings Changes

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and set a GBX 86 ($1.15) target price on shares of Pantheon Resources in a research report on Monday, March 24th.

Pantheon Resources Price Performance

The company has a debt-to-equity ratio of 7.35, a current ratio of 0.79 and a quick ratio of 20.28. The firm has a market capitalization of £510.02 million, a P/E ratio of -33.32 and a beta of -0.36. The company’s 50 day moving average price is GBX 59.32 and its 200 day moving average price is GBX 40.35.

Insider Transactions at Pantheon Resources

In other Pantheon Resources news, insider Linda Havard purchased 21,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The stock was acquired at an average cost of GBX 70 ($0.94) per share, with a total value of £14,700 ($19,670.81). 10.15% of the stock is currently 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.