Paramount Resources (TSE:POU) Stock Rating Upgraded by Cormark

Paramount Resources (TSE:POU) was upgraded by analysts at Cormark from a “hold” rating to a “moderate buy” rating in a research note issued to investors on Friday,Zacks.com reports.

A number of other research firms have also issued reports on POU. Royal Bank of Canada upped their target price on Paramount Resources from C$34.00 to C$37.00 in a research note on Friday. Jefferies Financial Group cut their price target on shares of Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Scotiabank lifted their price objective on Paramount Resources from C$43.00 to C$44.00 in a research note on Friday. CIBC increased their price target on Paramount Resources from C$38.00 to C$39.50 in a report on Friday. Finally, Cibc World Mkts upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$37.60.

Paramount Resources Stock Down 1.0 %

Paramount Resources stock opened at C$31.01 on Friday. Paramount Resources has a fifty-two week low of C$24.51 and a fifty-two week high of C$33.06. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.75. The stock’s fifty day moving average is C$26.82 and its two-hundred day moving average is C$29.23. The firm has a market capitalization of C$4.55 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04.

About Paramount Resources

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.