Paramount Resources, Ltd. (POU) Sets New 1-Year High at $22.56

Paramount Resources, Ltd. (TSE:POU) shares hit a new 52-week high on Wednesday . The stock traded as high as C$22.56 and last traded at C$22.56, with a volume of 394,724 shares. The stock had previously closed at C$21.75.

Several brokerages have recently weighed in on POU. Scotiabank lowered shares of Paramount Resources from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from C$26.00 to C$24.50 in a report on Monday, July 10th. BMO Capital Markets increased their price objective on shares of Paramount Resources from C$22.00 to C$25.00 and gave the stock an “outperform” rating in a report on Monday, June 12th. TD Securities increased their price objective on shares of Paramount Resources from C$17.50 to C$19.50 and gave the stock a “hold” rating in a report on Tuesday, July 11th. Laurentian Bank of Canada increased their price objective on shares of Paramount Resources from C$29.00 to C$30.00 in a report on Friday, July 7th. Finally, Barclays PLC cut their price objective on shares of Paramount Resources from C$25.00 to C$21.00 in a report on Monday, July 24th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Paramount Resources presently has an average rating of “Buy” and a consensus price target of C$23.25.

The firm has a market cap of $2.45 billion and a PE ratio of 1.88. The company’s 50-day moving average is $20.79 and its 200-day moving average is $19.05.

In other Paramount Resources news, insider Clayton H. Riddell purchased 2,000 shares of the business’s stock in a transaction dated Wednesday, July 12th. The stock was bought at an average cost of C$18.68 per share, for a total transaction of C$37,360.00. Also, insider Michael S. Han sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of C$21.49, for a total value of C$128,940.00. Over the last 90 days, insiders sold 35,200 shares of company stock valued at $478,144.

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Paramount Resources Company Profile

Paramount Resources Ltd., an independent energy company, explores for, develops, produces, and markets natural gas, crude oil, and natural gas liquids in Canada. The company operates through three segments: Principal Properties, Strategic Investments, and Corporate. Its principal properties are located in Alberta and British Columbia.

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