Paramount Resources, Ltd. (POU) Price Target Increased to C$31.00 by Analysts at Raymond James Financial, Inc.
Paramount Resources, Ltd. (TSE:POU) had its price objective lifted by Raymond James Financial, Inc. from C$26.00 to C$31.00 in a research report issued on Monday, StockTargetPrices.com reports. The firm currently has a “strong-buy” rating on the stock. Raymond James Financial, Inc.’s price objective would indicate a potential upside of 33.39% from the stock’s previous close.
A number of other analysts have also weighed in on POU. BMO Capital Markets increased their price objective on shares of Paramount Resources from C$22.00 to C$25.00 and gave the stock an “outperform” rating in a research note on Monday, June 12th. Laurentian increased their price objective on shares of Paramount Resources from C$29.00 to C$30.00 in a research note on Friday, July 7th. Laurentian Bank of Canada increased their price objective on shares of Paramount Resources from C$29.00 to C$30.00 in a research note on Friday, July 7th. Scotiabank lowered shares of Paramount Resources from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from C$26.00 to C$24.50 in a research note on Monday, July 10th. Finally, TD Securities increased their price objective on shares of Paramount Resources from C$17.50 to C$19.50 and gave the stock a “hold” rating in a research note on Tuesday, July 11th. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of C$23.42.
Shares of Paramount Resources (TSE:POU) traded up 3.31% on Monday, hitting $24.01. 392,980 shares of the stock traded hands. The stock has a 50 day moving average of $21.09 and a 200 day moving average of $19.16. Paramount Resources has a one year low of $13.43 and a one year high of $24.04. The company has a market cap of $2.55 billion and a PE ratio of 1.96.
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In other news, insider Bernard K. Lee purchased 10,000 shares of the stock in a transaction that occurred on Monday, July 10th. The shares were purchased at an average cost of C$17.97 per share, with a total value of C$179,700.00. Also, Director Robert M. Macdonald purchased 1,500 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were purchased at an average cost of C$23.15 per share, for a total transaction of C$34,725.00. Over the last three months, insiders have purchased 13,500 shares of company stock worth $251,785 and have sold 56,400 shares worth $976,344.
About Paramount Resources
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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