Pantheon Resources (LON:PANR) Sets New 12-Month High - Here's What Happened

Pantheon Resources Plc (LON:PANR - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 72 ($0.93) and last traded at GBX 71.40 ($0.92), with a volume of 10467725 shares. The stock had previously closed at GBX 68.10 ($0.88).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reissued a "speculative buy" rating and set a GBX 86 ($1.11) price objective on shares of Pantheon Resources in a research note on Monday, March 24th.

Pantheon Resources Stock Up 8.5 %

The firm's 50 day simple moving average is GBX 59.78 and its 200 day simple moving average is GBX 35.90. The company has a quick ratio of 20.28, a current ratio of 0.79 and a debt-to-equity ratio of 7.35. The company has a market cap of £1.01 billion, a price-to-earnings ratio of -65.68 and a beta of -0.36.

Insiders Place Their Bets

In other Pantheon Resources news, insider Linda Havard purchased 21,000 shares of the stock in a transaction on Wednesday, March 26th. The shares were purchased at an average price of GBX 70 ($0.91) per share, with a total value of £14,700 ($19,026.66). Corporate insiders own 10.15% of the company's stock.

Pantheon Resources Company Profile

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.