BMO Capital Markets upgraded shares of Paramount Resources (TSE:POU) from a market perform rating to an outperform rating in a research note released on Thursday morning. The brokerage currently has C$24.50 price objective on the stock, down from their prior price objective of C$26.00.
A number of other equities analysts also recently issued reports on the company. Raymond James Financial upped their price target on Paramount Resources from C$32.50 to C$36.00 and gave the stock a strong-buy rating in a research report on Friday, November 10th. TD Securities upped their price target on Paramount Resources from C$23.00 to C$27.00 and gave the stock a hold rating in a research report on Friday, November 10th. Desjardins upped their price target on Paramount Resources from C$24.00 to C$26.50 in a research report on Monday, November 13th. Scotiabank upped their price target on Paramount Resources from C$26.00 to C$28.00 and gave the stock a sector perform rating in a research report on Friday, November 10th. Finally, Barclays upped their price target on Paramount Resources from C$22.00 to C$26.00 in a research report on Monday, November 13th. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of C$27.50.
Shares of Paramount Resources (TSE:POU) traded up C$0.51 during mid-day trading on Thursday, hitting C$18.78. The stock had a trading volume of 451,934 shares, compared to its average volume of 420,616. The firm has a market capitalization of $2,540.00, a P/E ratio of 4.10 and a beta of 2.18. Paramount Resources has a 1-year low of C$14.60 and a 1-year high of C$25.57.
In other Paramount Resources news, insider Clayton H. Riddell purchased 40,000 shares of the stock in a transaction on Tuesday, November 28th. The shares were bought at an average cost of C$20.55 per share, with a total value of C$822,000.00. Also, insider Clayton H. Riddell purchased 25,000 shares of the stock in a transaction on Wednesday, November 15th. The stock was acquired at an average cost of C$22.79 per share, for a total transaction of C$569,750.00. Over the last three months, insiders purchased 80,100 shares of company stock worth $1,650,580 and sold 14,308 shares worth $301,530.
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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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