TD Securities Lowers Paramount Resources (POU) Price Target to C$12.00
Paramount Resources (TSE:POU) had its target price reduced by equities research analysts at TD Securities from C$14.00 to C$12.00 in a report released on Friday. The brokerage presently has a “hold” rating on the stock. TD Securities’ price objective points to a potential upside of 43.03% from the company’s previous close.
A number of other research analysts also recently weighed in on the stock. BMO Capital Markets lowered their price objective on shares of Paramount Resources from C$18.00 to C$11.00 in a research report on Friday. National Bank Financial lowered their price objective on shares of Paramount Resources from C$21.50 to C$20.00 and set an “outperform” rating on the stock in a research report on Friday. Royal Bank of Canada lowered their price objective on shares of Paramount Resources from C$20.00 to C$18.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 9th. Finally, CIBC increased their price objective on shares of Paramount Resources from C$17.50 to C$19.00 in a research report on Monday, October 15th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of C$21.52.
Shares of TSE POU opened at C$8.39 on Friday. Paramount Resources has a 52-week low of C$8.08 and a 52-week high of C$24.99. The company has a debt-to-equity ratio of 34.24, a quick ratio of 0.36 and a current ratio of 1.18.
In related news, Director Dirk Jungé sold 3,000 shares of the stock in a transaction that occurred on Friday, October 19th. The shares were sold at an average price of C$11.98, for a total transaction of C$35,940.00. Also, insider Clayton H. Riddell acquired 200,000 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were bought at an average price of C$13.08 per share, for a total transaction of C$2,616,000.00.
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.
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