Paramount Resources (TSE:POU) Price Target Raised to C$37.00

Paramount Resources (TSE:POU) had its price objective upped by stock analysts at CIBC from C$35.00 to C$37.00 in a note issued to investors on Friday, BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. CIBC’s price target would suggest a potential upside of 15.44% from the stock’s previous close.

A number of other research analysts have also issued reports on the company. Jefferies Financial Group decreased their target price on Paramount Resources from C$33.00 to C$31.00 in a research report on Thursday, March 7th. National Bankshares raised their price objective on Paramount Resources from C$37.50 to C$40.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Raymond James decreased their price objective 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. Stifel Nicolaus raised their price objective on Paramount Resources from C$36.00 to C$37.00 and gave the company a “buy” rating in a report on Friday. Finally, Royal Bank of Canada raised their price objective on Paramount Resources from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Paramount Resources presently has an average rating of “Moderate Buy” and a consensus price target of C$35.80.

Paramount Resources Trading Up 0.2 %

Shares of TSE:POU opened at C$32.05 on Friday. Paramount Resources has a 1 year low of C$24.59 and a 1 year high of C$33.80. The firm has a market capitalization of C$4.63 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 0.14 and a beta of 3.23. 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 business’s 50 day moving average price is C$28.80 and its 200-day moving average price is C$27.93.

Paramount Resources (TSE:POU) last announced its earnings results on Wednesday, March 6th. The company reported C$0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of C$436.00 million. On average, equities research analysts forecast that Paramount Resources will post 2.3708207 earnings per share for the current fiscal year.

Insider Transactions at Paramount Resources

In other news, 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 transaction of C$610,000.00. In related news, Senior Officer Michael S. Han sold 30,040 shares of the firm’s stock in a transaction dated 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 the firm’s stock in a transaction dated 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 a total of 69,655 shares of company stock worth $2,021,257 in the last quarter. Company insiders own 45.75% of the company’s stock.

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.