Pantheon Resources (LON:PANR) Given Speculative Buy Rating at Canaccord Genuity Group

Key Points

• Pantheon Resources received a "speculative buy" rating from Canaccord Genuity Group, with a target price of GBX 70, indicating a potential upside of 114% from its previous close.
• The company’s shares opened at GBX 32.71 and have seen a significant increase of 13.2% in trading.
• Pantheon Resources is focused on developing oil fields in Alaska, with certified resources exceeding 1 billion barrels and a goal to demonstrate a sustainable value of $5-$10/bbl by the end of 2028.

Pantheon Resources (LON:PANR - Get Free Report)'s stock had its "speculative buy" rating reaffirmed by analysts at Canaccord Genuity Group in a research note issued to investors on Monday,London Stock Exchange reports. They currently have a GBX 70 target price on the stock. Canaccord Genuity Group's target price would suggest a potential upside of 114.00% from the stock's previous close.

Pantheon Resources Trading Up 13.2%

Shares of LON:PANR opened at GBX 32.71 on Monday. The business's 50 day simple moving average is GBX 25.48 and its 200 day simple moving average is GBX 37.34. Pantheon Resources has a 1 year low of GBX 14.20 and a 1 year high of GBX 73. 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 £405.21 million, a P/E ratio of -3,238.61 and a beta of -0.36.

Pantheon Resources Company Profile

Pantheon Resources plc is an AIM listed Oil & Gas company focused on developing the Ahpun and Kodiak fields located on state land on the Alaska North Slope ("ANS"), onshore USA where, following issue of the new leases, it will have a 100% working interest in c. 259,000 acres. Certified contingent resources attributable to these projects exceeds 1 billion barrels of marketable liquids, located adjacent to Alaska's Trans Alaska Pipeline System ("TAPS"). Pantheon's stated objective is to demonstrate sustainable market recognition of a value of $5-$10/bbl of recoverable resources by end 2028.

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