Paramount Resources (POU) Raised to Outperform at BMO Capital Markets

BMO Capital Markets upgraded shares of Paramount Resources (TSE:POU) from a market perform rating to an outperform rating in a research report sent to investors on Thursday morning. The firm currently has C$24.50 price target on the stock, down from their prior price target of C$26.00.

A number of other research analysts also recently issued reports on POU. Raymond James Financial upped their target price 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. Barclays upped their target price on shares of Paramount Resources from C$21.00 to C$22.00 in a research report on Monday, October 30th. Royal Bank of Canada upped their target price on shares of Paramount Resources from C$22.00 to C$27.00 and gave the company a sector perform rating in a research report on Friday, November 10th. Scotiabank upped their target price 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, TD Securities upped their target price on shares of Paramount Resources from C$23.00 to C$27.00 and gave the company a hold rating in a research report on Friday, November 10th. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Paramount Resources has an average rating of Buy and a consensus target price 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 stock has a market cap of $2,540.00, a PE ratio of 4.10 and a beta of 2.18.

In other news, insider Clayton H. Riddell purchased 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were acquired at an average cost of C$20.55 per share, for a total transaction of C$822,000.00. Also, insider Clayton H. Riddell purchased 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was purchased at an average price of C$22.79 per share, for a total transaction of C$569,750.00. Over the last quarter, insiders purchased 80,100 shares of company stock worth $1,650,580 and sold 14,308 shares worth $301,530.

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Paramount Resources Company Profile

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)

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