Paramount Resources Ltd (POU) Receives C$24.06 Consensus Target Price from Analysts

Shares of Paramount Resources Ltd (TSE:POU) have received an average rating of “Hold” from the thirteen ratings firms that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is C$24.06.

Several analysts have recently weighed in on POU shares. Raymond James cut shares of Paramount Resources from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from C$36.75 to C$25.00 in a research note on Thursday, May 10th. CIBC increased their price target on shares of Paramount Resources from C$20.00 to C$22.00 in a research note on Tuesday, March 20th. Royal Bank of Canada decreased their price objective on shares of Paramount Resources from C$24.00 to C$22.00 and set a “sector perform” rating on the stock in a report on Friday, March 9th. GMP Securities decreased their price objective on shares of Paramount Resources from C$26.00 to C$22.75 in a report on Friday, March 9th. Finally, Scotiabank lowered shares of Paramount Resources from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$30.00 to C$20.00 in a report on Thursday, May 10th.

Shares of Paramount Resources traded up C$0.63, hitting C$15.13, during mid-day trading on Tuesday, MarketBeat.com reports. The stock had a trading volume of 517,900 shares, compared to its average volume of 441,315. Paramount Resources has a 12-month low of C$13.80 and a 12-month high of C$25.57.

Paramount Resources (TSE:POU) last posted its quarterly earnings results on Wednesday, May 9th. The company reported C($0.61) earnings per share for the quarter, beating the consensus estimate of C($0.77) by C$0.16. Paramount Resources had a net margin of 206.65% and a return on equity of 42.13%. The business had revenue of C$269.81 million during the quarter, compared to analysts’ expectations of C$285.40 million.

In other Paramount Resources news, Director James H. T. Riddell sold 100,000 shares of the stock in a transaction that occurred on Monday, April 23rd. The shares were sold at an average price of C$17.56, for a total transaction of C$1,756,000.00. Also, insider Darrel S. Purdy sold 3,500 shares of the stock in a transaction that occurred on Thursday, April 19th. The stock was sold at an average price of C$17.28, for a total transaction of C$60,480.00. Over the last 90 days, insiders bought 16,600 shares of company stock worth $248,723.

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)

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