Pantheon Resources (LON:PANR) Stock Price Down 10.6% – Should You Sell?

Pantheon Resources Plc (LON:PANR) dropped 10.6% during mid-day trading on Thursday . The company traded as low as GBX 6.70 and last traded at GBX 7.02. Approximately 74,419,992 shares changed hands during mid-day trading, an increase of 300% from the average daily volume of 18,625,471 shares. The stock had previously closed at GBX 7.85.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group dropped their price target on Pantheon Resources from GBX 70 to GBX 66 and set a “speculative buy” rating on the stock in a research report on Thursday, September 25th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of GBX 66.

Pantheon Resources Trading Down 10.6%

The firm’s 50-day simple moving average is GBX 17.88 and its 200 day simple moving average is GBX 23.12. The stock has a market cap of £94.58 million, a P/E ratio of -18.46 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.

About Pantheon Resources

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.