Pantheon Resources (LON:PANR) Stock Price Down 12% - Here's Why

Key Points

• Pantheon Resources' shares fell by 12% during mid-day trading, closing at GBX 27.50 ($0.37) after reaching a low of GBX 27.20 ($0.37).
• Despite the recent decline, analysts have maintained a "speculative buy" rating with a price target of GBX 70, indicating future growth potential.
• Pantheon Resources focuses on developing oil fields in Alaska's North Slope, claiming over 1 billion barrels of marketable liquids in certified contingent resources.

Shares of Pantheon Resources Plc (LON:PANR - Get Free Report) dropped 12% on Wednesday . The company traded as low as GBX 27.20 ($0.37) and last traded at GBX 27.50 ($0.37). Approximately 12,978,874 shares changed hands during mid-day trading, an increase of 60% from the average daily volume of 8,121,754 shares. The stock had previously closed at GBX 31.25 ($0.43).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group restated a "speculative buy" rating and issued a GBX 70 price objective on shares of Pantheon Resources in a report on Monday, September 8th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of GBX 70.

Pantheon Resources Stock Down 0.4%

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 company has a market cap of £318.99 million, a price-to-earnings ratio of -2,549.50 and a beta of -0.36. The firm's fifty day simple moving average is GBX 26.07 and its 200 day simple moving average is GBX 35.93.

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.