Paramount Resources (TSE:POU) Given New C$43.00 Price Target at Cormark

Paramount Resources (TSE:POUGet Rating) had its price target hoisted by investment analysts at Cormark from C$38.00 to C$43.00 in a research note issued on Monday, BayStreet.CA reports. Cormark’s target price would indicate a potential upside of 29.71% from the stock’s current price.

POU has been the subject of a number of other research reports. National Bankshares cut their price objective on shares of Paramount Resources from C$45.00 to C$35.00 in a research report on Thursday. Scotiabank lifted their price objective on Paramount Resources from C$25.00 to C$31.00 in a report on Tuesday, March 8th. Royal Bank of Canada increased their target price on Paramount Resources from C$30.00 to C$33.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 3rd. CIBC lifted their price target on Paramount Resources from C$35.00 to C$36.00 in a research note on Thursday. Finally, Raymond James raised their target price on Paramount Resources from C$33.00 to C$37.00 and gave the company an “outperform” rating in a report on Friday, March 25th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$32.39.

Paramount Resources stock traded up C$2.17 during midday trading on Monday, hitting C$33.15. 258,191 shares of the company’s stock were exchanged, compared to its average volume of 519,369. The firm’s 50 day simple moving average is C$28.85 and its 200 day simple moving average is C$24.83. Paramount Resources has a 12-month low of C$9.32 and a 12-month high of C$33.19. The company has a debt-to-equity ratio of 15.67, a quick ratio of 0.56 and a current ratio of 0.61. The stock has a market cap of C$4.61 billion and a price-to-earnings ratio of 19.72.

Paramount Resources (TSE:POUGet Rating) last issued its quarterly earnings results on Wednesday, March 2nd. The company reported C$0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.52 by C$0.37. The company had revenue of C$434.30 million during the quarter. On average, equities research analysts forecast that Paramount Resources will post 2.61 EPS for the current fiscal year.

In related news, Director Robert M. Macdonald sold 9,000 shares of Paramount Resources stock in a transaction dated Wednesday, February 16th. The stock was sold at an average price of C$27.01, for a total transaction of C$243,116.10. Following the completion of the sale, the director now owns 600 shares in the company, valued at approximately C$16,207.74. Also, Senior Officer Bernard K. Lee sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 30th. The shares were sold at an average price of C$32.00, for a total transaction of C$320,000.00. Following the completion of the transaction, the insider now owns 253,010 shares in the company, valued at C$8,096,320. In the last quarter, insiders have sold 72,819 shares of company stock worth $2,233,415.

Paramount Resources Company Profile (Get Rating)

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's principal properties are the Montney and Duvernay developments located in Alberta and British Columbia. It also invests in public and private corporations.

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