Pantheon Resources (LON:PANR) Shares Down 51.4% – Here’s Why

Shares of Pantheon Resources Plc (LON:PANR) traded down 51.4% on Monday . The stock traded as low as GBX 7.70 and last traded at GBX 8.84. 300,392,844 shares were traded during mid-day trading, an increase of 2,863% from the average session volume of 10,136,873 shares. The stock had previously closed at GBX 18.20.

Analyst Ratings Changes

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 note on Thursday, September 25th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of GBX 66.

Pantheon Resources Stock Performance

The company’s fifty day simple moving average is GBX 24.66 and its two-hundred day simple moving average is GBX 25.39. The company has a market capitalization of £117.45 million, a price-to-earnings ratio of -8.71 and a beta of -0.36. The company has a debt-to-equity ratio of 7.35, a quick ratio of 20.28 and a current ratio of 0.79.

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.