Paramount Resources’ (POU) “Market Perform” Rating Reiterated at BMO Capital Markets
BMO Capital Markets reaffirmed their market perform rating on shares of Paramount Resources, Ltd. (TSE:POU) in a report published on Tuesday. The brokerage currently has a C$26.00 price objective on the stock.
Several other equities analysts have also issued reports on the company. Laurentian Bank of Canada boosted their price objective on Paramount Resources from C$29.00 to C$30.00 in a research report on Friday, July 7th. Raymond James Financial, Inc. boosted their price objective on Paramount Resources from C$26.00 to C$31.00 and gave the company a strong-buy rating in a research report on Monday, September 18th. Scotiabank lowered Paramount Resources from an outperform rating to a sector perform rating and decreased their price objective for the company from C$26.00 to C$24.50 in a research report on Monday, July 10th. TD Securities boosted their price objective on Paramount Resources from C$17.50 to C$19.50 and gave the company a hold rating in a research report on Tuesday, July 11th. Finally, Barclays PLC decreased their price objective on Paramount Resources from C$25.00 to C$21.00 in a research report on Monday, July 24th. Six analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Hold and an average price target of C$23.50.
Shares of Paramount Resources (TSE POU) opened at 23.14 on Tuesday. Paramount Resources has a 52-week low of $12.60 and a 52-week high of $25.57. The stock has a market capitalization of $2.46 billion and a price-to-earnings ratio of 1.89. The stock has a 50 day moving average of $23.03 and a 200-day moving average of $20.25.
In other Paramount Resources news, insider Matthew G. Ockenden sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of C$22.00, for a total transaction of C$176,000.00. Also, insider Clayton H. Riddell purchased 3,000 shares of Paramount Resources stock in a transaction on Thursday, September 28th. The shares were purchased at an average cost of C$24.85 per share, with a total value of C$74,550.00. In the last ninety days, insiders have acquired 184,500 shares of company stock valued at $4,554,275 and have sold 56,400 shares valued at $976,344.
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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