Paramount Resources (TSE:POU) Raised to Moderate Buy at Raymond James

Paramount Resources (TSE:POU) was upgraded by equities researchers at Raymond James to a “moderate buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other analysts have also issued reports on the company. Scotiabank lowered their price target on Paramount Resources from C$46.00 to C$31.00 in a research note on Wednesday, February 19th. Royal Bank of Canada cut their price target on shares of Paramount Resources from C$34.00 to C$19.00 in a report on Tuesday, February 18th. National Bank Financial downgraded Paramount Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Jefferies Financial Group lowered their target price on shares of Paramount Resources from C$35.00 to C$21.00 in a research note on Monday, February 24th. Finally, BMO Capital Markets cut their price target on shares of Paramount Resources from C$40.00 to C$25.00 in a research note on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$27.19.

Paramount Resources Price Performance

Paramount Resources stock opened at C$15.13 on Monday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.68 and a current ratio of 0.62. The stock has a market capitalization of C$2.25 billion, a P/E ratio of 6.20, a P/E/G ratio of 0.14 and a beta of 3.04. Paramount Resources has a 1 year low of C$14.33 and a 1 year high of C$33.06. The company’s fifty day moving average price is C$20.64 and its 200 day moving average price is C$26.11.

Insider Buying and Selling

In related news, Director Dirk Jungé bought 3,000 shares of Paramount Resources stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average price of C$15.63 per share, with a total value of C$46,876.32. Also, Senior Officer Rodrigo Sousa purchased 5,600 shares of the company’s stock in a transaction on Friday, March 7th. The shares were bought at an average cost of C$15.78 per share, with a total value of C$88,365.76. Over the last ninety days, insiders bought 8,848 shares of company stock valued at $143,148. 45.36% of the stock is owned by 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.