Pantheon Resources (LON:PANR) Trading 9.6% Higher – Here’s What Happened

Pantheon Resources Plc (LON:PANR) shares were up 9.6% during mid-day trading on Monday . The stock traded as high as GBX 13.68 and last traded at GBX 13.68. 9,284,908 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 18,897,619 shares. The stock had previously closed at GBX 12.48.

Pantheon Resources Trading Up 9.6%

The company has a debt-to-equity ratio of 4.84, a quick ratio of 20.28 and a current ratio of 1.34. The business’s 50 day moving average price is GBX 13.43 and its 200-day moving average price is GBX 11.05. The firm has a market cap of £199.44 million, a price-to-earnings ratio of -29.74 and a beta of -0.36.

Insider Activity at Pantheon Resources

In other news, insider Spencer of Alresford (Michael Spencer) bought 2,120,742 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was bought at an average price of GBX 14 per share, for a total transaction of £296,903.88. Insiders own 7.49% of the company’s stock.

Pantheon Resources Company Profile

Pantheon Resources plc is an AIM listed Oil & Gas company focused on developing its 100% owned Ahpun and Kodiak fields located on State of Alaska land on the North Slope, onshore USA. Independently certified best estimate contingent recoverable resources attributable to these projects currently total c. 1.6 billion barrels of ANS crude and 6.6 Tcf of associated natural gas. The Company owns 100% working interest in c. 259,000 acres.

Pantheon’s stated objective is to demonstrate sustainable market recognition of a value of approximately $5 per barrel of recoverable resources by end 2028.