The Materials sector company, Paramount Resources Cl A (TSX: POU), has received a rating update from a Wall Street analyst on October 8. The company received a Buy on October 8 from BMO Capital’s analyst Randy Ollenberger, with a C$18 price target.
According to TipRanks.com, Ollenberger is a 3-star analyst with an average return of 1.1% and a 50.4% success rate. Ollenberger covers the Basic Materials sector, focusing on stocks such as Birchcliff Energy Ltd, Imperial Oil Limited, and Encana Corp.
Currently, the analyst consensus on Paramount Resources Cl A is a Hold with an average price target of C$17.17.
Based on Paramount Resources Cl A’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of C$135 million. In comparison, last year the company had a net profit of C$223 million.
Paramount Resources Ltd. engages in the exploration, development, production, processing, transportation, and marketing of natural gas, crude oil, and natural gas liquids. It operates through the following segments: Principal Properties, Strategic Investments, and Corporate.
The company’s shares closed on Thursday at C$13.56, close to its 52-week low of C$12.26.