Paramount Resources Ltd. (TSE:POU) has earned a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is C$27.75.
Several research analysts have commented on the company. Raymond James Financial raised their target price on Paramount Resources from C$32.50 to C$36.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 10th. TD Securities lifted their price target on Paramount Resources from C$23.00 to C$27.00 and gave the company a “hold” rating in a research report on Friday, November 10th. BMO Capital Markets reissued a “market perform” rating and issued a C$26.00 target price on shares of Paramount Resources in a report on Tuesday, October 10th. Scotiabank upped their price target on Paramount Resources from C$26.00 to C$28.00 and gave the company a “sector perform” rating in a report on Friday, November 10th. Finally, Barclays upped their price objective on Paramount Resources from C$21.00 to C$22.00 in a research report on Monday, October 30th.
In other Paramount Resources news, Director Robert M. Macdonald acquired 1,500 shares of the firm’s 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. Also, insider Clayton H. Riddell bought 80,000 shares of the company’s stock in a transaction that occurred on Thursday, September 21st. The stock was acquired at an average cost of C$25.00 per share, for a total transaction of C$2,000,000.00. In the last three months, insiders bought 249,500 shares of company stock valued at $5,946,025 and sold 41,508 shares valued at $928,670.
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Paramount Resources Company Profile
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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