Pantheon Resources (LON:PANR) Shares Down 10.5% – Here’s What Happened

Pantheon Resources Plc (LON:PANR)’s stock price fell 10.5% during trading on Monday . The company traded as low as GBX 8.40 and last traded at GBX 8.54. 23,288,799 shares changed hands during trading, an increase of 141% from the average session volume of 9,678,350 shares. The stock had previously closed at GBX 9.54.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group cut 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 report on Thursday, September 25th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Pantheon Resources presently has an average rating of “Buy” and an average target price of GBX 66.

Pantheon Resources Price Performance

The firm has a 50-day simple moving average of GBX 22.17 and a 200 day simple moving average of GBX 24.51. The firm has a market cap of £114.39 million, a PE ratio of -8.49 and a beta of -0.36. The company has a debt-to-equity ratio of 7.35, a current ratio of 0.79 and a quick ratio of 20.28.

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.