Pantheon Resources (LON:PANR) Trading Down 10.7% – Here’s What Happened

Pantheon Resources Plc (LON:PANR) dropped 10.7% on Wednesday . The company traded as low as GBX 11.16 and last traded at GBX 12.06. Approximately 28,692,547 shares traded hands during trading, an increase of 83% from the average daily volume of 15,708,419 shares. The stock had previously closed at GBX 13.51.

Pantheon Resources Price Performance

The company has a market cap of £175.82 million, a PE ratio of -26.22 and a beta of -0.36. The company has a quick ratio of 20.28, a current ratio of 1.34 and a debt-to-equity ratio of 4.84. The firm has a 50 day simple moving average of GBX 13.53 and a 200-day simple moving average of GBX 11.93.

Insider Activity at Pantheon Resources

In other news, insider Spencer of Alresford (Michael Spencer) acquired 2,120,742 shares of Pantheon Resources stock in a transaction that occurred on Tuesday, June 2nd. The stock was purchased 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.