Paramount Resources (TSE:POU) Given New C$36.00 Price Target at Scotia

Paramount Resources (TSE:POU) had its target price hoisted by research analysts at Scotia from C$34.00 to C$36.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotia’s target price points to a potential upside of 19.40% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. Royal Bank Of Canada raised their price target on Paramount Resources from C$32.00 to C$35.00 and gave the company a “sector perform” rating in a report on Wednesday, May 13th. National Bank Financial upped their price target on shares of Paramount Resources from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 13th. BMO Capital Markets raised their price objective on shares of Paramount Resources from C$35.00 to C$37.00 and gave the company an “outperform” rating in a research note on Friday. Raymond James Financial lifted their target price on shares of Paramount Resources from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Finally, Scotiabank upgraded shares of Paramount Resources to a “hold” rating in a research note on Friday, June 26th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$34.35.

Paramount Resources Stock Down 1.9%

Shares of Paramount Resources stock traded down C$0.59 during midday trading on Friday, hitting C$30.15. The company had a trading volume of 85,346 shares, compared to its average volume of 281,504. Paramount Resources has a 52-week low of C$19.37 and a 52-week high of C$33.44. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 2.57. The stock has a market capitalization of C$4.38 billion, a P/E ratio of 75.37, a P/E/G ratio of 0.14 and a beta of -0.25. The company has a 50 day moving average of C$28.98 and a 200 day moving average of C$28.46.

Paramount Resources (TSE:POU) last announced its quarterly earnings data on Thursday, August 6th. The company reported C$0.47 earnings per share (EPS) for the quarter. Paramount Resources had a return on equity of 1.96% and a net margin of 5.90%.The business had revenue of C$317.90 million during the quarter. On average, equities analysts predict that Paramount Resources will post 1.4075758 earnings per share for the current fiscal year.

Insider Activity at Paramount Resources

In other Paramount Resources news, insider Tyson Riddell sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of C$31.36, for a total value of C$156,800.00. Following the completion of the transaction, the insider owned 14,458 shares of the company’s stock, valued at approximately C$453,402.88. The trade was a 25.70% decrease in their position. Also, Director Dirk Jungé sold 8,850 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of C$30.97, for a total transaction of C$274,084.50. Following the transaction, the director owned 57,915 shares in the company, valued at C$1,793,627.55. This represents a 13.26% decrease in their position. Over the last three months, insiders bought 10,148 shares of company stock valued at $308,401 and sold 44,800 shares valued at $1,388,875. 45.36% of the stock is currently owned by corporate insiders.

Paramount Resources Company Profile

Paramount is an independent, publicly traded Canadian energy company that explores for and develops both conventional and unconventional petroleum and natural gas, including longer-term strategic exploration and pre-development plays. The Company’s principal properties are located in Alberta and British Columbia. Paramount’s class A common shares are listed on the Toronto Stock Exchange under the symbol “POU”.