Scotiabank Has Lowered Expectations for Paramount Resources (TSE:POU) Stock Price

Paramount Resources (TSE:POU) had its price objective decreased by equities researchers at Scotiabank from C$46.00 to C$31.00 in a report released on Wednesday,BayStreet.CA reports. Scotiabank’s price objective indicates a potential upside of 71.37% from the company’s current price.

A number of other equities analysts have also recently issued reports on the stock. Royal Bank of Canada reduced their price objective on shares of Paramount Resources from C$34.00 to C$19.00 in a research note on Tuesday. Jefferies Financial Group cut their target price on Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. CIBC boosted their target price on Paramount Resources from C$38.00 to C$39.50 in a research report on Friday, November 15th. Finally, Cormark raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 15th. Three investment 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$31.67.

Paramount Resources Price Performance

Paramount Resources stock opened at C$18.09 on Wednesday. The business’s 50-day simple moving average is C$29.94 and its 200 day simple moving average is C$28.63. 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 stock has a market cap of C$2.69 billion, a price-to-earnings ratio of 7.41, a P/E/G 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 Buying and Selling 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 purchased at an average cost of C$31.30 per share, for a total transaction of C$3,129,630.00. Also, Senior Officer Michael S. Han sold 8,320 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of C$30.86, for a total transaction of C$256,788.48. Company insiders own 45.36% of the company’s stock.

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.