BMO Capital Markets Issues Pessimistic Forecast for Paramount Resources (TSE:POU) Stock Price

Paramount Resources (TSE:POU) had its price objective cut by analysts at BMO Capital Markets from C$40.00 to C$25.00 in a report issued on Wednesday,BayStreet.CA reports. BMO Capital Markets’ target price indicates a potential upside of 37.51% from the company’s current price.

Other analysts also recently issued reports about the stock. Cormark raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. Royal Bank of Canada reduced their price target on shares of Paramount Resources from C$34.00 to C$19.00 in a research report on Tuesday. CIBC cut their target price on Paramount Resources from C$39.50 to C$24.50 in a research note on Wednesday. Scotiabank dropped their price objective on Paramount Resources from C$46.00 to C$31.00 in a research report on Wednesday. Finally, Jefferies Financial Group decreased their target price 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. Two equities 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$31.67.

Paramount Resources Trading Up 0.3 %

TSE POU traded up C$0.05 during trading on Wednesday, hitting C$18.18. 736,768 shares of the company’s stock traded hands, compared to its average volume of 962,645. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.62 and a quick ratio of 0.68. The stock has a fifty day moving average of C$30.70 and a two-hundred day moving average of C$28.86. The firm has a market cap of C$2.71 billion, a P/E ratio of 7.44, a PEG ratio of 0.14 and a beta of 3.04. Paramount Resources has a 12-month low of C$16.60 and a 12-month high of C$33.06.

Insider Activity at Paramount Resources

In other Paramount Resources news, insider Brenda Gail Riddell purchased 100,000 shares of the stock in a transaction on Monday, November 25th. The shares were bought at an average price of C$31.30 per share, for a total transaction of C$3,129,630.00. Also, Director Kimberley Elizabeth Lynch Proctor acquired 3,000 shares of Paramount Resources stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average cost of C$31.36 per share, with a total value of C$94,080.00. Insiders have acquired a total of 103,248 shares of company stock valued at $3,231,616 over the last ninety days. 45.36% of the stock is owned by company insiders.

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.