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

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

A number of other brokerages have also commented on POU. Scotiabank increased their price target on Paramount Resources from C$44.00 to C$46.00 in a research note on Friday, January 17th. Jefferies Financial Group decreased their price objective on Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Cormark upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. Finally, CIBC upped their price objective on Paramount Resources from C$38.00 to C$39.50 in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$36.67.

Paramount Resources Price Performance

Paramount Resources stock traded down C$13.43 during midday trading on Tuesday, reaching C$18.32. 705,344 shares of the stock traded hands, compared to its average volume of 913,613. The stock’s fifty day moving average is C$30.70 and its 200-day moving average is C$28.86. Paramount Resources has a 12 month low of C$16.60 and a 12 month high of C$33.06. The stock has a market cap of C$2.73 billion, a P/E ratio of 7.50, a PEG ratio of 0.14 and a beta of 3.04. The company has a quick ratio of 0.68, a current ratio of 0.62 and a debt-to-equity ratio of 2.06.

Insiders Place Their Bets

In other Paramount Resources news, Senior Officer Michael S. Han sold 8,320 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of C$30.86, for a total transaction of C$256,788.48. Also, Senior Officer David Blake Reid sold 68,000 shares of the stock in a transaction on 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. Insiders have bought 103,248 shares of company stock worth $3,231,616 in the last ninety days. 45.36% of the stock is owned by company insiders.

Paramount Resources Company Profile

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.