Pantheon Resources (LON:PANR) Trading Down 11.3% – Here’s What Happened

Pantheon Resources Plc (LON:PANR) was down 11.3% during mid-day trading on Thursday . The company traded as low as GBX 14.16 and last traded at GBX 14.16. Approximately 14,764,070 shares were traded during trading, a decline of 9% from the average daily volume of 16,162,139 shares. The stock had previously closed at GBX 15.97.

Pantheon Resources Stock Down 11.3%

The stock’s 50 day simple moving average is GBX 13.85 and its two-hundred day simple moving average is GBX 11.53. The firm has a market cap of £206.44 million, a P/E ratio of -30.78 and a beta of -0.36. The company has a debt-to-equity ratio of 4.84, a current ratio of 1.34 and a quick ratio of 20.28.

Insiders Place Their Bets

In related news, insider Spencer of Alresford (Michael Spencer) acquired 2,120,742 shares of the stock in a transaction on Tuesday, June 2nd. The stock was acquired at an average price of GBX 14 per share, for a total transaction of £296,903.88. 7.65% of the stock is currently owned by company insiders.

About Pantheon Resources

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.