Pantheon Resources (LON:PANR) Trading Down 11% – Time to Sell?

Pantheon Resources Plc (LON:PANR) dropped 11% during mid-day trading on Monday . The company traded as low as GBX 8.41 and last traded at GBX 8.49. Approximately 23,400,904 shares changed hands during trading, an increase of 142% from the average daily volume of 9,678,797 shares. The stock had previously closed at GBX 9.54.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lowered their target price 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 analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Pantheon Resources has an average rating of “Buy” and an average target price of GBX 66.

Pantheon Resources Stock Up 3.0%

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 stock has a market capitalization of £114.39 million, a PE ratio of -8.49 and a beta of -0.36. The stock’s fifty day simple moving average is GBX 22.17 and its 200-day simple moving average is GBX 24.51.

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.