Scotiabank Boosts Paramount Resources (TSE:POU) Price Target to C$46.00

by · The Markets Daily

Paramount Resources (TSE:POU – Get Free Report) had its price target increased by equities researchers at Scotiabank from C$44.00 to C$46.00 in a research report issued on Friday,BayStreet.CA reports. Scotiabank’s price objective suggests a potential upside of 55.20% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. CIBC lifted their target price on shares of Paramount Resources from C$38.00 to C$39.50 in a report on Friday, November 15th. Cibc World Mkts raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Cormark raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 15th. Jefferies Financial Group dropped their price objective on shares of Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Royal Bank of Canada boosted their price objective on shares of Paramount Resources from C$34.00 to C$37.00 in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Paramount Resources presently has an average rating of “Moderate Buy” and a consensus price target of C$38.40.

View Our Latest Stock Report on POU

Paramount Resources Stock Performance

Shares of Paramount Resources stock traded down C$0.48 during trading on Friday, reaching C$29.64. The company’s stock had a trading volume of 388,392 shares, compared to its average volume of 526,086. The company has a 50-day moving average price of C$30.57 and a two-hundred day moving average price of C$28.98. The firm has a market cap of C$4.35 billion, a PE ratio of 12.56, a P/E/G ratio of 0.14 and a beta of 3.04. Paramount Resources has a fifty-two week low of C$24.51 and a fifty-two week high of C$33.06. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83.

Insiders Place Their Bets

In related news, Senior Officer Garth W.J. Stotts sold 12,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of C$31.02, for a total value of C$372,183.60. Also, Senior Officer David Blake Reid sold 68,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of C$30.90, for a total transaction of C$2,101,200.00. In the last ninety days, insiders have purchased 103,248 shares of company stock worth $3,231,616 and have sold 88,320 shares worth $2,730,172. Insiders own 45.36% of the company’s stock.

About Paramount Resources

(Get Free Report)

Paramount Resources Ltd. explores for and develops conventional and unconventional petroleum and natural gas reserves and resources in Canada. The company holds interests in the Karr and Wapiti Montney properties covering an area of 109,000 net acres located south of the city of Grande Prairie, Alberta; Kaybob North Duvernay development and natural gas producing properties covering an area of 124,000 net acres located in west-central Alberta; and Willesden Green Duvernay development in central Alberta and shale gas producing properties in the Horn River Basin in northeast British Columbia covering an area of 249,000 net acres.

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