Pantheon Resources (LON:PANR) Price Target Cut to GBX 66 by Analysts at Canaccord Genuity Group

Key Points

• Analysts at Canaccord Genuity Group have reduced the price target for Pantheon Resources from GBX 70 to GBX 66, maintaining a "speculative buy" rating.
• The current stock price of Pantheon Resources is GBX 24.62, with a potential upside of 168.10% based on the new target price.
• Pantheon Resources is focused on oil and gas development in the Alaska North Slope, holding a 100% working interest in approximately 259,000 acres, aiming for a value of $5-$10 per recoverable barrel by the end of 2028.

Pantheon Resources (LON:PANR - Get Free Report) had its price target dropped by equities research analysts at Canaccord Genuity Group from GBX 70 to GBX 66 in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a "speculative buy" rating on the stock. Canaccord Genuity Group's price target would suggest a potential upside of 168.10% from the company's current price.

Pantheon Resources Stock Performance

PANR opened at GBX 24.62 on Thursday. The business has a 50 day moving average price of GBX 26.48 and a two-hundred day moving average price of GBX 34.53. 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 £304.97 million, a price-to-earnings ratio of -2,437.43 and a beta of -0.36. Pantheon Resources has a 1-year low of GBX 15.52 and a 1-year high of GBX 73.

About Pantheon Resources

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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