Several other analysts have also recently weighed in on the stock. Raymond James Financial, Inc. raised their price objective on shares of Paramount Resources from C$26.00 to C$31.00 and gave the company a strong-buy rating in a research report on Monday, September 18th. BMO Capital Markets restated a market perform rating and set a C$26.00 price objective on shares of Paramount Resources in a research report on Tuesday, October 10th. Desjardins raised their price objective on shares of Paramount Resources from C$24.00 to C$26.50 in a research report on Monday. Scotiabank raised their price objective on shares of Paramount Resources from C$26.00 to C$28.00 and gave the company a sector perform rating in a research report on Friday, November 10th. Finally, Laurentian raised their price objective on shares of Paramount Resources from C$33.00 to C$35.00 in a research report on Monday. Six analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Paramount Resources presently has a consensus rating of Hold and an average target price of C$27.75.
Paramount Resources (TSE:POU) traded down C$1.08 during trading on Monday, hitting C$22.56. 364,860 shares of the stock traded hands, compared to its average volume of 367,511. Paramount Resources has a 12-month low of C$14.60 and a 12-month high of C$25.57.
In other news, insider Clayton H. Riddell purchased 80,000 shares of the business’s stock in a transaction on Thursday, September 21st. The shares were acquired at an average price of C$25.00 per share, with a total value of C$2,000,000.00. Also, insider Michael S. Han sold 6,000 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of C$21.49, for a total transaction of C$128,940.00. In the last ninety days, insiders have purchased 184,500 shares of company stock worth $4,554,275 and have sold 39,708 shares worth $889,160.
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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