Pantheon Resources (LON:PANR) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

Pantheon Resources Plc (LON:PANR) 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 changing hands.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and set a GBX 86 ($1.13) price objective on shares of Pantheon Resources in a research report on Monday, March 24th.

Pantheon Resources Stock Performance

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

Insider Activity at Pantheon Resources

In other news, insider Linda Havard acquired 21,000 shares of Pantheon Resources stock in a transaction on Wednesday, March 26th. The shares were purchased at an average cost of GBX 70 ($0.92) per share, for a total transaction of £14,700 ($19,240.84). 10.15% of the stock is currently owned by corporate insiders.

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.