Pantheon Resources (LON:PANR) Trading Down 11.3% – Time to Sell?

Pantheon Resources Plc (LON:PANR) shares were down 11.3% during mid-day trading on Thursday . The stock traded as low as GBX 14.16 and last traded at GBX 14.16. Approximately 14,764,070 shares changed hands during trading, a decline of 9% from the average daily volume of 16,162,139 shares. The stock had previously closed at GBX 15.97.

Pantheon Resources Price Performance

The company has a debt-to-equity ratio of 4.84, a current ratio of 1.34 and a quick ratio of 20.28. The business’s 50 day moving average price is GBX 13.85 and its 200 day moving average price is GBX 11.53. The stock has a market capitalization of £206.44 million, a P/E ratio of -30.78 and a beta of -0.36.

Insider Buying and Selling

In related news, insider Spencer of Alresford (Michael Spencer) bought 2,120,742 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was acquired at an average cost of GBX 14 per share, for a total transaction of £296,903.88. Company insiders own 7.65% of the company’s stock.

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.