Pantheon Resources (LON:PANR) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Pantheon Resources Plc (LON:PANR)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 39.40 ($0.52) and traded as high as GBX 54.40 ($0.71). Pantheon Resources shares last traded at GBX 52.20 ($0.68), with a volume of 6,422,065 shares traded.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 86 ($1.13) target price on shares of Pantheon Resources in a research note on Monday, March 24th.

Pantheon Resources Stock Performance

The company has a debt-to-equity ratio of 7.35, a quick ratio of 20.28 and a current ratio of 0.79. The company has a market cap of £745.56 million, a PE ratio of -48.70 and a beta of -0.36. The business’s 50-day moving average is GBX 62.12 and its 200 day moving average is GBX 39.40.

Insider Transactions at Pantheon Resources

In other news, insider Linda Havard purchased 21,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was bought at an average cost of GBX 70 ($0.92) per share, for a total transaction of £14,700 ($19,240.84). Company insiders own 10.15% of the company’s stock.

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.