Pantheon Resources (LON:PANR) Stock Price Up 5% – Still a Buy?

Pantheon Resources Plc (LON:PANR) shot up 5% during trading on Tuesday . The company traded as high as GBX 18.50 and last traded at GBX 17.43. 13,836,320 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 20,361,965 shares. The stock had previously closed at GBX 16.60.

Pantheon Resources Stock Performance

The stock has a 50 day moving average of GBX 11.52 and a 200 day moving average of GBX 12.65. The company has a quick ratio of 20.28, a current ratio of 1.34 and a debt-to-equity ratio of 4.84. The firm has a market cap of £254.07 million, a price-to-earnings ratio of -37.88 and a beta of -0.36.

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.