Royal Bank of Canada Issues Pessimistic Forecast for Paramount Resources (TSE:POU) Stock Price

Paramount Resources (TSE:POU) had its price target lowered by analysts at Royal Bank of Canada from C$34.00 to C$19.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s target price suggests a potential upside of 3.88% from the stock’s current price.

A number of other brokerages have also recently weighed in on POU. Jefferies Financial Group reduced their price target on shares of 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. Scotiabank boosted their target price on Paramount Resources from C$44.00 to C$46.00 in a report on Friday, January 17th. Cormark raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. Finally, CIBC lifted their price target on Paramount Resources from C$38.00 to C$39.50 in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$31.67.

Paramount Resources Stock Up 0.9 %

POU stock opened at C$18.29 on Tuesday. The stock has a market cap of C$2.72 billion, a P/E ratio of 7.49, a PEG ratio of 0.14 and a beta of 3.04. The company has a current ratio of 0.62, a quick ratio of 0.68 and a debt-to-equity ratio of 2.06. Paramount Resources has a twelve month low of C$16.60 and a twelve month high of C$33.06. The company’s 50 day moving average is C$30.19 and its two-hundred day moving average is C$28.71.

Insider Activity at Paramount Resources

In other Paramount Resources news, insider Brenda Gail Riddell purchased 100,000 shares of Paramount Resources stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of C$31.30 per share, with a total value of C$3,129,630.00. Also, Senior Officer Michael S. Han sold 8,320 shares of Paramount Resources stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of C$30.86, for a total value of C$256,788.48. Insiders have bought a total of 103,248 shares of company stock worth $3,231,616 in the last three months. 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.