Zephyr Energy (LON:ZPHR) Trading 1.7% Higher - Still a Buy?

Key Points

• Zephyr Energy's share price increased by 1.7% during mid-day trading, reaching a last traded price of GBX 3 ($0.04), although trading volume fell by 54% compared to its daily average.
• Analyst firm Canaccord Genuity downgraded Zephyr Energy's target price from GBX 12 ($0.16) to GBX 9 ($0.12) while maintaining a "speculative buy" rating.
• The company has a current debt-to-equity ratio of 42.73 and holds significant asset reserves in the Paradox Basin, Utah, with estimated 2P reserves of 2.6 million barrels of oil equivalent.

Zephyr Energy plc (LON:ZPHR - Get Free Report) traded up 1.7% during trading on Thursday . The stock traded as high as GBX 3 ($0.04) and last traded at GBX 3 ($0.04). 1,937,995 shares were traded during mid-day trading, a decline of 54% from the average session volume of 4,254,003 shares. The stock had previously closed at GBX 2.95 ($0.04).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group decreased their target price on shares of Zephyr Energy from GBX 12 ($0.16) to GBX 9 ($0.12) and set a "speculative buy" rating on the stock in a research note on Friday, May 30th.

Zephyr Energy Trading Up 2.8%

The company has a debt-to-equity ratio of 42.73, a current ratio of 0.45 and a quick ratio of 0.87. The firm's 50 day moving average is GBX 3.21 and its 200 day moving average is GBX 3.54. The company has a market capitalization of £61.56 million, a PE ratio of -14.30 and a beta of 0.77.

About Zephyr Energy

Zephyr Energy plc AIM: ZPHR OTCQB: ZPHRF is a technology-led oil and gas company focused on responsible resource development from carbon-neutral operations in the Rocky Mountain region of the United States. The Company's mission is rooted in two core values: to be responsible stewards of its investors' capital, and to be responsible stewards of the environment in which it works. Zephyr's flagship asset is an operated 46,000-acre leaseholding located in the Paradox Basin, Utah, 25,000 acres of which has been assessed to hold, net to Zephyr, 2P reserves of 2.6 million barrels of oil equivalent ("mmboe"), 2C resources of 34 mmboe and 2U resources 270 mmboe. In addition to its operated assets, the Company owns working interests in a broad portfolio of non-operated producing wells across the Williston Basin in North Dakota and Montana.