Paramount Resources, Ltd. (POU) Receives Average Recommendation of “Hold” from Brokerages
Shares of Paramount Resources, Ltd. (TSE:POU) have earned an average rating of “Buy” from the thirteen brokerages that are currently covering the stock. Five investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is C$20.54.
A number of equities analysts have recently issued reports on POU shares. BMO Capital Markets increased their price target on shares of Paramount Resources from C$19.00 to C$22.00 in a report on Thursday. Raymond James Financial, Inc. set a C$27.50 target price on shares of Paramount Resources and gave the company a “strong-buy” rating in a report on Tuesday, February 21st. TD Securities downgraded shares of Paramount Resources to a “hold” rating and raised their target price for the company from C$14.50 to C$16.50 in a report on Thursday. Scotiabank restated an “outperform” rating and set a C$22.00 target price on shares of Paramount Resources in a report on Friday, March 10th. Finally, CSFB restated a “neutral” rating and set a C$17.00 target price on shares of Paramount Resources in a report on Thursday.
In related news, insider Clayton H. Riddell bought 420,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The shares were acquired at an average cost of C$18.75 per share, with a total value of C$7,875,000.00.
Shares of Paramount Resources (TSE:POU) opened at 21.10 on Monday. The stock’s 50 day moving average is $17.83 and its 200-day moving average is $16.62. Paramount Resources has a 1-year low of $7.50 and a 1-year high of $21.19. The stock has a market cap of $2.19 billion and a PE ratio of 1.83.
About Paramount Resources
Paramount Resources Ltd. is an energy company. The Company explores and develops unconventional and conventional petroleum and natural gas prospects, including long-term unconventional exploration and pre-development projects, and holds a portfolio of investments in other entities. The Company’s segments include Principal Properties, Strategic Investments and Corporate.
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