Pantheon Resources (LON:PANR) Stock Price Down 10.6% – Here’s Why

Pantheon Resources Plc (LON:PANR)’s stock price was down 10.6% during trading on Thursday . The company traded as low as GBX 6.70 and last traded at GBX 7.02. Approximately 74,419,992 shares were traded during mid-day trading, an increase of 300% from the average daily volume of 18,625,471 shares. The stock had previously closed at GBX 7.85.

Analyst Upgrades and Downgrades

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

Pantheon Resources Stock Performance

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 firm has a 50-day moving average price of GBX 17.88 and a 200 day moving average price of GBX 23.12. The firm has a market capitalization of £94.58 million, a PE ratio of -18.46 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.