Pantheon Resources (LON:PANR) Stock Price Up 13% – Here’s Why

Pantheon Resources Plc (LON:PANR) shares rose 13% during mid-day trading on Wednesday. The stock traded as high as GBX 12.28 and last traded at GBX 11.87. 14,723,144 shares changed hands during trading, a decline of 0% from the average session volume of 14,753,880 shares. The stock had previously closed at GBX 10.50.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group restated a “speculative buy” rating and issued a GBX 40 price target on shares of Pantheon Resources in a research note on Wednesday, September 16th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Pantheon Resources presently has an average rating of “Buy” and a consensus target price of GBX 40.

Pantheon Resources Stock Up 13.0%

The business has a 50-day moving average price of GBX 12.18 and a 200 day moving average price of GBX 12.55. The company has a current ratio of 5.21, a quick ratio of 20.28 and a debt-to-equity ratio of 5.33. The stock has a market capitalization of £173.05 million, a P/E ratio of -25.80 and a beta of -0.36.

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.