Pantheon Resources (LON:PANR) Trading Down 11.5% – Here’s What Happened

Pantheon Resources Plc (LON:PANR) was down 11.5% during trading on Monday . The stock traded as low as GBX 8.41 and last traded at GBX 8.44. Approximately 23,937,740 shares traded hands during trading, an increase of 147% from the average daily volume of 9,680,936 shares. The stock had previously closed at GBX 9.54.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reduced their target price 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, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of GBX 66.

Pantheon Resources Price Performance

The stock’s 50 day moving average price is GBX 22.91 and its 200-day moving average price is GBX 24.77. The company has a quick ratio of 20.28, a current ratio of 0.79 and a debt-to-equity ratio of 7.35. The stock has a market capitalization of £111.99 million, a PE ratio of -8.31 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.