Paramount Resources (TSE:POU) Given New C$19.00 Price Target at Royal Bank of Canada

Paramount Resources (TSE:POU) had its price target decreased by research analysts at Royal Bank of Canada from C$34.00 to C$19.00 in a report released on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s target price suggests a potential upside of 3.71% from the stock’s current price.

POU has been the subject of a number of other research reports. Jefferies Financial Group lowered their price objective on Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Cormark raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. Scotiabank raised their target price on Paramount Resources from C$44.00 to C$46.00 in a research note on Friday, January 17th. Finally, CIBC raised their target price on Paramount Resources from C$38.00 to C$39.50 in a research note on Friday, November 15th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Paramount Resources currently has an average rating of “Moderate Buy” and an average price target of C$36.67.

Paramount Resources Stock Down 42.3 %

Shares of Paramount Resources stock traded down C$13.43 during trading on Tuesday, reaching C$18.32. The company’s stock had a trading volume of 705,344 shares, compared to its average volume of 913,613. The company has a quick ratio of 0.68, a current ratio of 0.62 and a debt-to-equity ratio of 2.06. The company has a market cap of C$2.73 billion, a price-to-earnings ratio of 7.50, a P/E/G ratio of 0.14 and a beta of 3.04. Paramount Resources has a 1-year low of C$16.60 and a 1-year high of C$33.06. The company has a 50-day simple moving average of C$30.70 and a two-hundred day simple moving average of C$28.86.

Insider Buying and Selling at Paramount Resources

In other Paramount Resources news, insider Brenda Gail Riddell purchased 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of C$31.30 per share, for a total transaction of C$3,129,630.00. Also, Senior Officer David Blake Reid sold 68,000 shares of Paramount Resources stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of C$30.90, for a total value of C$2,101,200.00. In the last quarter, insiders purchased 103,248 shares of company stock worth $3,231,616. Insiders own 45.36% of the company’s stock.

About Paramount Resources

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.