Pantheon Resources (LON:PANR) Share Price Crosses Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• Pantheon Resources' share price has dropped below its 200-day moving average of GBX 32.73, trading recently at GBX 23.95.
• Canaccord Genuity has lowered its price target for Pantheon Resources from GBX 70 to GBX 66, maintaining a "speculative buy" rating.
• The company has significant potential, with more than 1 billion barrels of contingent resources in its Alaska fields, where it aims to establish a value of $5-$10 per barrel by end 2028.

Pantheon Resources Plc (LON:PANR - Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 32.73 ($0.44) and traded as low as GBX 23.95 ($0.32). Pantheon Resources shares last traded at GBX 23.95 ($0.32), with a volume of 3,404,296 shares changing 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 report on Thursday, September 25th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Pantheon Resources presently has an average rating of "Buy" and a consensus target price of GBX 66.

Pantheon Resources Trading Down 0.8%

The firm's 50-day moving average is GBX 26.59 and its 200-day moving average is GBX 32.73. 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 £294.21 million, a price-to-earnings ratio of -2,351.49 and a beta of -0.36.

Pantheon Resources Company Profile

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.

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