Pantheon Resources (LON:PANR) Shares Down 4.5% - Here's What Happened

Key Points

• Pantheon Resources' stock price fell by 4.5%, closing at GBX 26.25 ($0.36) after trading as low as GBX 25 ($0.34) during the day.
• Analysts from Canaccord Genuity Group have maintained a "speculative buy" rating with a target price of GBX 70, suggesting potential upside for investors.
• The company, focused on developing the Ahpun and Kodiak fields in Alaska, has over 1 billion barrels of certified contingent resources and aims for a market value of $5-$10 per barrel by the end of 2028.

Pantheon Resources Plc (LON:PANR - Get Free Report) shares fell 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). 54,416,500 shares traded hands during trading, an increase of 549% from the average session volume of 8,384,792 shares. The stock had previously closed at GBX 27.50 ($0.38).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group restated a "speculative buy" rating and set a GBX 70 price target on shares of Pantheon Resources in a research note on Monday, September 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of GBX 70.

Pantheon Resources Stock Down 0.4%

The firm has a market capitalization of £310.32 million, a price-to-earnings ratio of -2,480.20 and a beta of -0.36. 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 firm has a fifty 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.