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

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

Pantheon Resources Price Performance

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 stock’s 50 day moving average price is GBX 13.41 and its two-hundred day moving average price is GBX 11.99. The stock has a market cap of £170.27 million, a price-to-earnings ratio of -25.39 and a beta of -0.36.

Insider Buying and Selling

In other Pantheon Resources news, insider Spencer of Alresford (Michael Spencer) purchased 2,120,742 shares of the stock in a transaction on Tuesday, June 2nd. The shares were bought at an average cost of GBX 14 per share, with a total value of £296,903.88. Insiders own 7.65% of the company’s stock.

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.