Pantheon Resources (LON:PANR) Shares Up 7.8% - What's Next?

Key Points

• Pantheon Resources shares increased by 7.8% on Wednesday, reaching GBX 25.20 ($0.34) during trading, with a total volume of over 10 million shares exchanged.
• Analysts at Canaccord Genuity have maintained a "speculative buy" rating for Pantheon Resources and set a target price of GBX 74 ($0.99) per share.
• The company aims to achieve a market valuation of $5-$10 per barrel of recoverable resources by the end of 2028, highlighting its substantial contingent resources exceeding 1 billion barrels of marketable liquids.

Pantheon Resources Plc (LON:PANR - Get Free Report) rose 7.8% on Wednesday . The company traded as high as GBX 25.20 ($0.34) and last traded at GBX 24.75 ($0.33). Approximately 10,317,563 shares traded hands during trading, an increase of 26% from the average daily volume of 8,182,223 shares. The stock had previously closed at GBX 22.95 ($0.31).

Analyst Ratings Changes

Separately, Canaccord Genuity Group restated a "speculative buy" rating and set a GBX 74 ($0.99) target price on shares of Pantheon Resources in a research note on Monday, May 19th.

Pantheon Resources Price Performance

The company has a quick ratio of 20.28, a current ratio of 0.79 and a debt-to-equity ratio of 7.35. The company has a market capitalization of £353.50 million, a PE ratio of -23.09 and a beta of -0.36. The firm's 50-day moving average is GBX 24.64 and its 200-day moving average is GBX 41.53.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.