Pantheon Resources (LON:PANR) Stock Price Up 19.9% – Here’s Why

Pantheon Resources Plc (LON:PANR) shares rose 19.9% during trading on Thursday . The stock traded as high as GBX 51.40 ($0.63) and last traded at GBX 47 ($0.58). Approximately 26,319,096 shares were traded during mid-day trading, an increase of 299% from the average daily volume of 6,594,952 shares. The stock had previously closed at GBX 39.20 ($0.48).

Pantheon Resources Price Performance

The firm has a market capitalization of £539.01 million, a PE ratio of -3,070.00 and a beta of -0.36. The company has a quick ratio of 20.28, a current ratio of 0.58 and a debt-to-equity ratio of 8.69. The stock has a 50-day moving average price of GBX 28.50 and a 200 day moving average price of GBX 21.90.

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.