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

Key Points

• Pantheon Resources' share price has dropped below its 200-day moving average, trading as low as GBX 30.67 ($0.41), compared to the average of GBX 39.33 ($0.53).
• Canaccord Genuity has reissued a "speculative buy" rating with a target price of GBX 74, while the consensus rating for the stock remains a Buy.
• Pantheon Resources has certified contingent resources exceeding 1 billion barrels of marketable liquids located on the Alaska North Slope, aiming for sustainable market recognition of $5-$10/bbl by 2028.

Pantheon Resources Plc (LON:PANR - Get Free Report)'s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 39.33 ($0.53) and traded as low as GBX 30.67 ($0.41). Pantheon Resources shares last traded at GBX 31.30 ($0.42), with a volume of 6,625,851 shares changing hands.

Analyst Ratings Changes

Separately, Canaccord Genuity Group reiterated a "speculative buy" rating and set a GBX 74 target price on shares of Pantheon Resources in a research note on Monday, May 19th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of GBX 74.

Pantheon Resources Price Performance

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 company has a market capitalization of £438.48 million, a P/E ratio of -28.64 and a beta of -0.36. The business has a 50 day simple moving average of GBX 25.07 and a 200-day simple moving average of GBX 38.99.

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.