Paramount Resources (TSE:POU) Given New C$38.50 Price Target at BMO Capital Markets

Paramount Resources (TSE:POU) had its price objective boosted by investment analysts at BMO Capital Markets from C$37.00 to C$38.50 in a report issued on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price target suggests a potential upside of 20.12% from the company’s previous close.

Other research analysts also recently issued reports about the company. Scotiabank dropped their price target on Paramount Resources from C$30.00 to C$29.00 and set an “outperform” rating on the stock in a research note on Thursday, March 7th. National Bankshares increased their price target on Paramount Resources from C$37.50 to C$40.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. Raymond James cut their price target on Paramount Resources from C$40.00 to C$36.00 and set an “outperform” rating on the stock in a report on Friday, January 19th. Cormark lowered Paramount Resources from a “buy” rating to a “market perform” rating and cut their price target for the stock from C$40.00 to C$37.50 in a report on Thursday, March 7th. Finally, Royal Bank of Canada cut their price target on Paramount Resources from C$33.00 to C$32.00 and set a “sector perform” rating on the stock in a report on Thursday, March 7th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$35.80.

Paramount Resources Stock Up 0.2 %

Shares of Paramount Resources stock opened at C$32.05 on Friday. Paramount Resources has a one year low of C$24.59 and a one year high of C$33.80. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.71 and a quick ratio of 0.68. The stock’s 50-day moving average is C$28.80 and its 200 day moving average is C$27.93. The firm has a market cap of C$4.63 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.14 and a beta of 3.23.

Paramount Resources (TSE:POU) last announced its earnings results on Wednesday, March 6th. The company reported C$0.75 EPS for the quarter, missing the consensus estimate of C$0.95 by C($0.20). Paramount Resources had a net margin of 26.13% and a return on equity of 13.67%. The business had revenue of C$470.50 million for the quarter, compared to the consensus estimate of C$436.00 million. Equities research analysts anticipate that Paramount Resources will post 2.3708207 EPS for the current year.

Insider Activity

In other news, Senior Officer Bernard K. Lee sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of C$30.50, for a total value of C$610,000.00. In related news, Senior Officer Michael S. Han sold 30,040 shares of Paramount Resources stock in a transaction on Thursday, March 7th. The stock was sold at an average price of C$28.00, for a total transaction of C$841,120.00. Also, Senior Officer Bernard K. Lee sold 20,000 shares of Paramount Resources stock in a transaction on Friday, April 12th. The stock was sold at an average price of C$30.50, for a total value of C$610,000.00. Insiders have sold 69,655 shares of company stock worth $2,021,257 over the last 90 days. 45.75% of the stock is currently owned by corporate insiders.

Paramount Resources Company Profile

Paramount Resources Ltd. explores for and develops conventional and unconventional petroleum and natural gas reserves and resources in Canada. The company holds interests in the Karr and Wapiti Montney properties covering an area of 109,000 net acres located south of the city of Grande Prairie, Alberta; Kaybob North Duvernay development and natural gas producing properties covering an area of 124,000 net acres located in west-central Alberta; and Willesden Green Duvernay development in central Alberta and shale gas producing properties in the Horn River Basin in northeast British Columbia covering an area of 249,000 net acres.