Paramount Resources (POU) Sets New 12-Month High at $15.58

Paramount Resources (TSE:POU) shares reached a new 52-week high on Thursday . The stock traded as high as C$15.58 and last traded at C$15.39, with a volume of 313071 shares traded. The stock had previously closed at C$15.11.

Several research firms recently weighed in on POU. National Bank Financial dropped their price objective on shares of Paramount Resources from C$26.00 to C$22.50 and set an “outperform” rating for the company in a research report on Thursday, May 10th. Raymond James cut shares of Paramount Resources from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from C$36.75 to C$25.00 in a research report on Thursday, May 10th. Scotiabank cut shares of Paramount Resources from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from C$30.00 to C$20.00 in a research report on Thursday, May 10th. CIBC dropped their price objective on shares of Paramount Resources from C$20.00 to C$17.50 in a research report on Thursday, May 10th. Finally, BMO Capital Markets dropped their price objective on shares of Paramount Resources from C$24.50 to C$20.00 in a research report on Thursday, May 10th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of C$23.98.

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

In other Paramount Resources news, insider Darrel S. Purdy sold 3,500 shares of the company’s stock in a transaction on Thursday, April 19th. The shares were sold at an average price of C$17.28, for a total transaction of C$60,480.00. Also, insider Rodrigo Sousa bought 2,500 shares of the company’s stock in a transaction on Wednesday, March 14th. The shares were acquired at an average price of C$15.50 per share, with a total value of C$38,750.00.

Paramount Resources Company Profile

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.

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