Paramount Resources (TSE:POU) was upgraded by stock analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report released on Thursday. The firm presently has a C$24.50 target price on the stock, down from their prior target price of C$26.00. BMO Capital Markets’ price target would suggest a potential upside of 30.46% from the company’s previous close.
Other equities research analysts have also recently issued reports about the stock. Barclays lifted their price target on shares of Paramount Resources from C$21.00 to C$22.00 in a research report on Monday, October 30th. CSFB lifted their price target on shares of Paramount Resources from C$23.00 to C$26.50 in a research report on Monday, November 13th. Desjardins lifted their price target on shares of Paramount Resources from C$24.00 to C$26.50 in a research report on Monday, November 13th. GMP Securities lifted their price target on shares of Paramount Resources from C$25.50 to C$29.00 in a research report on Monday, November 13th. Finally, Laurentian lifted their price target on shares of Paramount Resources from C$33.00 to C$35.00 in a research report on Monday, November 13th. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of C$27.50.
Paramount Resources (TSE POU) opened at C$18.78 on Thursday. Paramount Resources has a 52 week low of C$14.60 and a 52 week high of C$25.57. The company has a market cap of $2,540.00, a PE ratio of 4.10 and a beta of 2.18.
In related news, Director Dirk Jungé sold 4,508 shares of Paramount Resources stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of C$20.59, for a total value of C$92,819.72. Also, insider Clayton H. Riddell acquired 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was acquired at an average price of C$20.55 per share, with a total value of C$822,000.00. In the last 90 days, insiders purchased 80,100 shares of company stock valued at $1,650,580 and sold 14,308 shares valued at $301,530.
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About Paramount Resources
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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