Paramount Resources, Ltd. (TSE:POU) shares reached a new 52-week high on Wednesday . The company traded as high as C$22.56 and last traded at C$22.56, with a volume of 394,724 shares trading hands. The stock had previously closed at C$21.75.

A number of research firms have weighed in on POU. Laurentian boosted their price objective on shares of Paramount Resources from C$29.00 to C$30.00 in a research report on Friday, July 7th. Barclays PLC cut their price objective on shares of Paramount Resources from C$25.00 to C$21.00 in a research report on Monday, July 24th. TD Securities boosted their price objective on shares of Paramount Resources from C$17.50 to C$19.50 and gave the company a “hold” rating in a research report on Tuesday, July 11th. Scotiabank cut shares of Paramount Resources from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$26.00 to C$24.50 in a research report on Monday, July 10th. Finally, BMO Capital Markets boosted their price objective on shares of Paramount Resources from C$22.00 to C$25.00 and gave the company an “outperform” rating in a research report on Monday, June 12th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of C$23.25.

The company has a 50-day moving average price of $20.99 and a 200-day moving average price of $19.12. The company has a market cap of $2.50 billion and a PE ratio of 1.92.

In other Paramount Resources news, insider Clayton H. Riddell acquired 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The stock was purchased at an average cost of C$18.68 per share, with a total value of C$37,360.00. Also, insider Michael S. Han sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of C$21.49, for a total value of C$128,940.00. Insiders have sold a total of 56,400 shares of company stock valued at $976,344 over the last three months.

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Paramount Resources Company Profile

Paramount Resources Ltd., an independent energy company, explores for, develops, produces, and markets natural gas, crude oil, and natural gas liquids in Canada. The company operates through three segments: Principal Properties, Strategic Investments, and Corporate. Its principal properties are located in Alberta and British Columbia.

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