Pantheon Resources (LON:PANR) Shares Down 11% – Here’s Why

Shares of Pantheon Resources Plc (LON:PANR) were down 11% on Monday . The stock traded as low as GBX 8.41 and last traded at GBX 8.49. Approximately 23,400,904 shares were traded during mid-day trading, an increase of 142% from the average daily volume of 9,678,797 shares. The stock had previously closed at GBX 9.54.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group dropped their price target on shares of Pantheon Resources from GBX 70 to GBX 66 and set a “speculative buy” rating on the stock in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of GBX 66.

Pantheon Resources Trading Down 12.1%

The company has a debt-to-equity ratio of 7.35, a current ratio of 0.79 and a quick ratio of 20.28. The business has a fifty day moving average of GBX 22.91 and a 200-day moving average of GBX 24.77. The stock has a market capitalization of £111.99 million, a price-to-earnings ratio of -8.31 and a beta of -0.36.

Pantheon Resources Company Profile

Pantheon Resources plc is an AIM listed Oil & Gas company focused on developing its 100% owned Ahpun and Kodiak fields located on State of Alaska land on the North Slope, onshore USA. Independently certified best estimate contingent recoverable resources attributable to these projects currently total c. 1.6 billion barrels of ANS crude and 6.6 Tcf of associated natural gas. The Company owns 100% working interest in c. 259,000 acres.

Pantheon’s stated objective is to demonstrate sustainable market recognition of a value of approximately $5 per barrel of recoverable resources by end 2028.