Pantheon Resources (LON:PANR) Stock Price Down 4.5% - Here's Why

Key Points

• Pantheon Resources Plc's stock price fell by 4.5%, trading between GBX 25 and GBX 26.25, with a trading volume significantly increased to approximately 54.4 million shares.
• Canaccord Genuity Group maintains a "speculative buy" rating for the stock with a price target set at GBX 70, while the average rating is also at "Buy".
• The company's contingent resources reportedly exceed 1 billion barrels of marketable liquids, with an ambition to establish a market value of $5-$10 per barrel by end of 2028.

Pantheon Resources Plc (LON:PANR - Get Free Report) dropped 4.5% during trading on Friday . The stock traded as low as GBX 25 ($0.34) and last traded at GBX 26.25 ($0.36). Approximately 54,416,500 shares changed hands during mid-day trading, an increase of 549% from the average daily volume of 8,384,792 shares. The stock had previously closed at GBX 27.50 ($0.37).

Analyst Ratings Changes

Separately, Canaccord Genuity Group reissued a "speculative buy" rating and issued a GBX 70 price target on shares of Pantheon Resources in a research note on Monday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of GBX 70.

Pantheon Resources Stock Down 1.4%

The stock has a market cap of £320.79 million, a P/E ratio of -2,563.86 and a beta of -0.36. 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 business has a 50-day simple moving average of GBX 25.94 and a 200-day simple moving average of GBX 36.74.

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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