Pantheon Resources (LON:PANR) Stock Price Down 7.4% – Here’s Why

Pantheon Resources Plc (LON:PANR)’s share price fell 7.4% on Monday. The stock traded as low as GBX 8.27 and last traded at GBX 8.43. 28,361,295 shares changed hands during mid-day trading, an increase of 104% from the average session volume of 13,931,649 shares. The stock had previously closed at GBX 9.10.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 40 target price on shares of Pantheon Resources in a report on Wednesday, September 16th. One analyst has rated the stock with a Buy rating. According to MarketBeat.com, Pantheon Resources has a consensus rating of “Buy” and an average target price of GBX 40.

Pantheon Resources Stock Performance

The firm has a market cap of £122.90 million, a price-to-earnings ratio of -6.29 and a beta of -0.36. The company has a quick ratio of 20.28, a current ratio of 5.21 and a debt-to-equity ratio of 5.33. The stock has a fifty day moving average price of GBX 10.93 and a 200-day moving average price of GBX 11.28.

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.