Paramount Resources (TSE:POU) Price Target Raised to C$23.00 at Royal Bank Of Canada

Paramount Resources (TSE:POU - Get Free Report) had its price objective boosted by equities researchers at Royal Bank Of Canada from C$21.00 to C$23.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price points to a potential upside of 6.14% from the company's current price.

Several other research analysts have also recently issued reports on POU. Raymond James Financial set a C$20.00 price target on Paramount Resources and gave the company a "market perform" rating in a report on Tuesday, April 8th. CIBC reduced their target price on Paramount Resources from C$24.50 to C$22.00 in a report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$23.67.

Paramount Resources Price Performance

TSE:POU traded down C$0.16 during mid-day trading on Monday, reaching C$21.67. 210,736 shares of the stock were exchanged, compared to its average volume of 763,490. The company has a current ratio of 0.62, a quick ratio of 0.68 and a debt-to-equity ratio of 2.06. The business has a fifty day moving average price of C$19.13 and a 200 day moving average price of C$22.09. Paramount Resources has a 1-year low of C$14.33 and a 1-year high of C$32.83. The firm has a market capitalization of C$3.23 billion, a PE ratio of 8.87, a PEG ratio of 0.14 and a beta of 3.04.

Insider Buying and Selling

In other Paramount Resources news, Senior Officer Garth W.J. Stotts sold 5,122 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of C$19.16, for a total value of C$98,130.35. Also, Director Dirk Jungé bought 2,000 shares of the firm's stock in a transaction on Wednesday, April 9th. The shares were bought at an average cost of C$14.80 per share, with a total value of C$29,595.90. 45.36% of the stock is currently owned by corporate insiders.

Paramount Resources Company Profile

Paramount Resources Ltd is a Canadian energy company that explores, develops, produces, and markets natural gas, crude oil, and natural gas liquids. The company takes part in exploration and production in Alberta and British Columbia. Sales for Paramount's products are priced in a multitude of markets that span the United States and Canada.