Zephyr Energy (LON:ZPHR) Trading 1.8% Higher - What's Next?

Key Points

• Zephyr Energy's stock increased by 1.8% to GBX 2.90 ($0.04), with a total trading volume of 3,275,166 shares, which is 23% lower than the average.
• Canaccord Genuity lowered their price target for Zephyr Energy from GBX 12 to GBX 9, while maintaining a "speculative buy" rating, reflecting a shift in market expectations.
• Zephyr Energy operates in the Rocky Mountain region and has significant reserves, with 2.6 million barrels of oil equivalent in 2P reserves from its Paradox Basin leaseholding.

Zephyr Energy plc (LON:ZPHR - Get Free Report)'s share price traded up 1.8% during mid-day trading on Friday . The stock traded as high as GBX 2.90 ($0.04) and last traded at GBX 2.90 ($0.04). 3,275,166 shares traded hands during trading, a decline of 23% from the average session volume of 4,236,065 shares. The stock had previously closed at GBX 2.85 ($0.04).

Analyst Ratings Changes

Separately, Canaccord Genuity Group lowered their price objective on shares of Zephyr Energy from GBX 12 to GBX 9 and set a "speculative buy" rating on the stock in a research report on Friday, May 30th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of GBX 11.

Zephyr Energy Price Performance

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 company has a 50 day moving average price of GBX 2.95 and a 200 day moving average price of GBX 3.48. The firm has a market cap of £60.92 million, a PE ratio of -256.64 and a beta of 0.77.

Zephyr Energy Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.