Brokerages Set Paramount Resources (POU) Price Target at $27.10

Paramount Resources (TSE:POU) has earned a consensus recommendation of “Buy” from the thirteen brokerages that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is C$27.10.

POU has been the subject of a number of research reports. CIBC dropped their price objective on shares of Paramount Resources from C$26.00 to C$23.00 in a report on Tuesday, January 23rd. BMO Capital Markets upgraded shares of Paramount Resources from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from C$26.00 to C$24.50 in a report on Thursday, January 11th. National Bank Financial dropped their price objective on shares of Paramount Resources from C$28.00 to C$26.00 and set an “outperform” rating for the company in a report on Tuesday, January 9th. Royal Bank of Canada dropped their price objective on shares of Paramount Resources from C$24.00 to C$22.00 and set a “sector perform” rating for the company in a report on Friday, March 9th. Finally, GMP Securities dropped their price objective on shares of Paramount Resources from C$26.00 to C$22.75 in a report on Friday, March 9th.

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POU stock traded up C$0.19 during trading on Thursday, reaching C$14.72. 357,292 shares of the stock were exchanged, compared to its average volume of 381,963. Paramount Resources has a 1 year low of C$13.93 and a 1 year high of C$25.57.

Paramount Resources (TSE:POU) last announced its quarterly earnings results on Thursday, March 8th. The company reported C($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.66) by C($0.13). Paramount Resources had a net margin of 206.65% and a return on equity of 42.13%. The company had revenue of C$258.90 million for the quarter, compared to analyst estimates of C$257.10 million.

In other news, insider Rodrigo Sousa purchased 2,500 shares of the stock in a transaction on Wednesday, March 14th. The stock was bought at an average price of C$15.50 per share, for a total transaction of C$38,750.00. Also, insider Joerg Wittenberg sold 14,700 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of C$17.07, for a total transaction of C$250,929.00. Insiders have acquired a total of 120,100 shares of company stock valued at $2,307,410 in the last quarter.

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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. Its principal properties are located in Alberta and British Columbia. The company also invests in public and private corporations. Paramount Resources Ltd.

Analyst Recommendations for Paramount Resources (TSE:POU)

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