Paramount Resources, Ltd. (POU) Receives Average Rating of “Buy” from Brokerages
Shares of Paramount Resources, Ltd. (TSE:POU) have been assigned a consensus recommendation of “Buy” from the twelve brokerages that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is C$23.25.
Several analysts have weighed in on POU shares. BMO Capital Markets lifted their target price on Paramount Resources from C$22.00 to C$25.00 and gave the company an “outperform” rating in a research note on Monday, June 12th. Laurentian lifted their target price on Paramount Resources from C$29.00 to C$30.00 in a research note on Friday, July 7th. Laurentian Bank of Canada lifted their target price on Paramount Resources from C$29.00 to C$30.00 in a research note on Friday, July 7th. Scotiabank downgraded Paramount Resources from an “outperform” rating to a “sector perform” rating and cut their target price for the company from C$26.00 to C$24.50 in a research note on Monday, July 10th. Finally, TD Securities lifted their target price on Paramount Resources from C$17.50 to C$19.50 and gave the company a “hold” rating in a research note on Tuesday, July 11th.
Shares of Paramount Resources (TSE:POU) opened at 23.24 on Friday. The stock has a market cap of $2.47 billion and a PE ratio of 1.90. Paramount Resources has a 1-year low of $12.60 and a 1-year high of $23.95. The stock’s 50 day moving average price is $21.09 and its 200 day moving average price is $19.16.
In other Paramount Resources news, Director Robert M. Macdonald purchased 1,500 shares of the stock in a transaction dated Friday, September 15th. The shares were acquired at an average price of C$23.15 per share, for a total transaction of C$34,725.00. Also, insider Darrel S. Purdy sold 21,200 shares of Paramount Resources stock in a transaction on Thursday, July 27th. The shares were sold at an average price of C$8.17, for a total value of C$173,204.00. Over the last 90 days, insiders purchased 13,500 shares of company stock worth $251,785 and sold 56,400 shares worth $976,344.
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Paramount Resources Company Profile
Paramount Resources Ltd., an independent energy company, explores for, develops, produces, and markets natural gas, crude oil, and natural gas liquids in Canada. The company operates through three segments: Principal Properties, Strategic Investments, and Corporate. Its principal properties are located in Alberta and British Columbia.
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