Pantheon Resources (LON:PANR) Shares Down 12.1% – Time to Sell?

Pantheon Resources Plc (LON:PANR) shares were down 12.1% on Monday . The stock traded as low as GBX 8.39 and last traded at GBX 8.39. Approximately 26,150,145 shares were traded during mid-day trading, an increase of 170% from the average daily volume of 9,689,750 shares. The stock had previously closed at GBX 9.54.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group decreased their target price on Pantheon Resources from GBX 70 to GBX 66 and set a “speculative buy” rating on the stock in a report on Thursday, September 25th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of GBX 66.

Pantheon Resources Stock Performance

The firm’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 debt-to-equity ratio of 7.35, a current ratio of 0.79 and a quick ratio of 20.28. The stock has a market cap of £111.99 million, a P/E 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.