Pantheon Resources (LON:PANR) Stock Price Up 12% - Should You Buy?

Pantheon Resources Plc (LON:PANR - Get Free Report)'s share price was up 12% during trading on Monday . The stock traded as high as GBX 33.10 ($0.45) and last traded at GBX 32.37 ($0.44). Approximately 15,644,688 shares were traded during trading, an increase of 92% from the average daily volume of 8,148,510 shares. The stock had previously closed at GBX 28.90 ($0.39).

Analysts Set New Price Targets

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

Pantheon Resources Trading Down 1.5%

The company has a debt-to-equity ratio of 7.35, a current ratio of 0.79 and a quick ratio of 20.28. The firm has a fifty day simple moving average of GBX 25.98 and a 200-day simple moving average of GBX 36.49. The firm has a market cap of £320.23 million, a P/E ratio of -2,559.41 and a beta of -0.36.

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.