Pantheon Resources (LON:PANR) Trading Down 36% - What's Next?

Pantheon Resources Plc (LON:PANR - Get Free Report) shares traded down 36% on Monday . The stock traded as low as GBX 22.62 ($0.31) and last traded at GBX 27.13 ($0.37). 40,380,520 shares traded hands during trading, an increase of 402% from the average session volume of 8,038,307 shares. The stock had previously closed at GBX 42.40 ($0.57).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a "speculative buy" rating and set a GBX 74 ($1.00) target price on shares of Pantheon Resources in a research note on Monday, May 19th.

Pantheon Resources Stock Up 6.7%

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 company's 50-day simple moving average is GBX 44.96 and its 200 day simple moving average is GBX 42.64. The firm has a market cap of £353.50 million, a P/E ratio of -23.09 and a beta of -0.36.

Insider Buying and Selling at Pantheon Resources

In other Pantheon Resources news, insider Linda Havard acquired 21,000 shares of the stock in a transaction on Wednesday, March 26th. The stock was acquired at an average price of GBX 70 ($0.95) per share, for a total transaction of £14,700 ($19,899.82). 10.15% of the stock is owned by company insiders.

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.