Pantheon Resources (LON:PANR) Shares Down 4.5% – Here’s What Happened

Pantheon Resources Plc (LON:PANR)’s stock price traded down 4.5% during mid-day trading on Friday . The company traded as low as GBX 25 ($0.34) and last traded at GBX 26.25 ($0.36). 54,416,500 shares traded hands during trading, an increase of 549% from the average session volume of 8,384,792 shares. The stock had previously closed at GBX 27.50 ($0.37).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 70 price objective on shares of Pantheon Resources in a research report on Monday, September 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of GBX 70.

Pantheon Resources Stock Performance

The company has a current ratio of 0.79, a quick ratio of 20.28 and a debt-to-equity ratio of 7.35. The firm has a market cap of £320.23 million, a price-to-earnings ratio of -2,559.41 and a beta of -0.36. The stock has a fifty day moving average price of GBX 25.98 and a 200 day moving average price of GBX 36.33.

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.