Pantheon Resources (LON:PANR) Shares 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.

Shares of Pantheon Resources Plc (LON:PANR - Get Free Report) dropped 4.5% during mid-day 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 traded hands during trading, an increase of 549% from the average daily volume of 8,384,792 shares. The stock had previously closed at GBX 27.50 ($0.38).

Wall Street Analyst Weigh In

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

Pantheon Resources Price Performance

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 stock has a market capitalization of £310.32 million, a PE ratio of -2,480.20 and a beta of -0.36. The firm has a 50 day moving average price of GBX 26.14 and a 200 day moving average price of GBX 35.85.

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.