BMO Capital Markets Upgrades Paramount Resources (POU) to “Outperform”

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.

COPYRIGHT VIOLATION NOTICE: “BMO Capital Markets Upgrades Paramount Resources (POU) to “Outperform”” was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece of content on another domain, it was stolen and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://ledgergazette.com/2018/01/13/bmo-capital-markets-upgrades-paramount-resources-pou-to-outperform.html.

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.

Analyst Recommendations for Paramount Resources (TSE:POU)

Receive News & Ratings for Paramount Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paramount Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply