Pantheon Resources (LON:PANR) Stock Price Down 10.4% – Here’s What Happened

Pantheon Resources Plc (LON:PANR) shares were down 10.4% during mid-day trading on Thursday . The stock traded as low as GBX 6.70 and last traded at GBX 7.03. Approximately 62,909,969 shares traded hands during trading, an increase of 260% from the average daily volume of 17,474,469 shares. The stock had previously closed at GBX 7.85.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group cut their price objective on shares of Pantheon Resources from GBX 70 to GBX 66 and set a “speculative buy” rating on the stock in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Pantheon Resources presently has a consensus rating of “Buy” and a consensus price target of GBX 66.

Pantheon Resources Stock Performance

The stock has a market cap of £94.58 million, a price-to-earnings ratio of -18.46 and a beta of -0.36. The company’s 50 day simple moving average is GBX 17.88 and its 200 day simple moving average is GBX 23.12. The company has a debt-to-equity ratio of 7.35, a quick ratio of 20.28 and a current ratio of 0.79.

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.