Pantheon Resources (LON:PANR) Shares Down 10.6% – What’s Next?

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

Wall Street Analysts Forecast Growth

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

Pantheon Resources Stock Down 10.6%

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 company has a market capitalization of £94.58 million, a price-to-earnings ratio of -18.46 and a beta of -0.36. The business has a 50 day simple moving average of GBX 17.88 and a 200 day simple moving average of GBX 23.12.

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.