Paramount Resources, Ltd. (POU) Given Average Recommendation of “Hold” by Brokerages
Shares of Paramount Resources, Ltd. (TSE:POU) have been assigned an average rating of “Hold” from the twelve analysts that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$23.50.
A number of equities analysts have issued reports on the company. Scotiabank cut Paramount Resources from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from C$26.00 to C$24.50 in a report on Monday, July 10th. Raymond James Financial, Inc. raised their target price on Paramount Resources from C$26.00 to C$31.00 and gave the stock a “strong-buy” rating in a report on Monday, September 18th. TD Securities raised their target price on Paramount Resources from C$17.50 to C$19.50 and gave the stock a “hold” rating in a report on Tuesday, July 11th. BMO Capital Markets restated a “market perform” rating and set a C$26.00 target price on shares of Paramount Resources in a report on Tuesday. Finally, Laurentian Bank of Canada raised their price target on Paramount Resources from C$29.00 to C$30.00 in a research report on Friday, July 7th.
Shares of Paramount Resources (TSE:POU) opened at 23.71 on Thursday. Paramount Resources has a 12-month low of $12.60 and a 12-month high of $25.57. The firm has a market cap of $2.52 billion and a P/E ratio of 1.94. The firm’s 50-day moving average price is $22.98 and its 200 day moving average price is $20.23.
In related news, insider Darrel S. Purdy sold 21,200 shares of Paramount Resources stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of C$8.17, for a total value of C$173,204.00. Also, insider Clayton H. Riddell bought 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was purchased at an average cost of C$24.85 per share, for a total transaction of C$74,550.00. In the last three months, insiders purchased 184,500 shares of company stock worth $4,554,275 and sold 56,400 shares worth $976,344.
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.
Receive News & Ratings for Paramount Resources Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paramount Resources Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.