Pantheon Resources (LON:PANR) Stock Price Down 11.6% – Here’s Why

Shares of Pantheon Resources Plc (LON:PANR) were down 11.6% on Thursday . The stock traded as low as GBX 6.91 and last traded at GBX 6.94. Approximately 19,084,914 shares traded hands during trading, an increase of 46% from the average daily volume of 13,091,963 shares. The stock had previously closed at GBX 7.85.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group dropped 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 report on Thursday, September 25th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of GBX 66.

Pantheon Resources Price Performance

The business has a fifty day moving average of GBX 17.88 and a 200-day moving average of GBX 23.12. The company has a current ratio of 0.79, a quick ratio of 20.28 and a debt-to-equity ratio of 7.35. The firm has a market cap of £93.02 million, a PE ratio of -18.16 and a beta of -0.36.

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.