(A Top Pick September 15/17 Down 38%) This is the third version of this company, he suggests. Now a 90,000 boed producer it has stagnated with a large natural gas position. There is inconsistency in delivering economic results. He likes their assets, but he has gone to the sidelines to wait for that consistency to develop. They are trying to move their portfolio to include 45% liquids.
It is a fine company, he says, but would prefer to back other management teams who are doing a better job paying down debt. He is bullish heavy oil differentials for next year, so is targeting other companies.
Energy should get a bump with positive news. Enjoyed a good run in 2016 to mid-2017, then went sideways. If this falls below $12, then something significant is going on, but right now it looks okay.
A past top pick. He likes it. It's viewed as a natural gas stock, but it's really a condensate. Paramount missed its last quarter due to weather and a problem at a plant. It's a misunderstood stock. They run it like a private company and don't always tell investors what they're doing. Buy it on dips.
They get a premium to Western Canadian Select oil for their liquids. They missed their last quarter due to weather and their facilities, which is short-term in nature. So, the stock has pulled back under $15, which is a definite buy. This is midjudged as a gas stock. An energy play. (Analysts' price target: $21.22)
He would not own this stock. They have too much operational risk. Their funding is dependent on asset sales and management is vague on where future value is going to come from.
Seasonality, gassy stocks tends to be quite positive this time of year, from September through until the end of the year. This is showing some encouraging signs. Technically, it has just broken above resistance level and has established an upward trend. Also, it is outperforming the market. Momentum indicators are positive. If you own, stick with it until approximately the 2nd week in December.
Paramount Resources is a Canadian stock, trading under the symbol POU-T on the Toronto Stock Exchange (POU-CT). It is usually referred to as TSX:POU or POU-T
In the last year, 2 stock analysts published opinions about POU-T. 2 analysts recommended to BUY the stock. 0 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Paramount Resources.
Paramount Resources was recommended as a Top Pick by on . Read the latest stock experts ratings for Paramount Resources.
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
2 stock analysts on Stockchase covered Paramount Resources In the last year. It is a trending stock that is worth watching.
On 2023-03-31, Paramount Resources (POU-T) stock closed at a price of $29.6.
Well respected CEO with Jim Riddell.
Tightly held company within Riddell family.
Company roughly debt free.
Seeing meaningful upside.
Potentially 100% upside in share price.