Paramount Resources (TSE:POU) Price Target Raised to C$33.00

Paramount Resources (TSE:POU) had its price target hoisted by analysts at ATB Cormark Capital Markets from C$28.00 to C$33.00 in a report released on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price objective would indicate a potential upside of 12.24% from the company’s current price.

Several other research firms have also recently commented on POU. Scotiabank increased their price objective on Paramount Resources from C$29.00 to C$31.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Royal Bank Of Canada lifted their price objective on Paramount Resources from C$26.00 to C$30.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Roth Mkm set a C$33.00 price objective on shares of Paramount Resources and gave the company a “buy” rating in a research report on Wednesday. Raymond James Financial upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Thursday, January 15th. Finally, Canadian Imperial Bank of Commerce boosted their price objective on shares of Paramount Resources from C$25.50 to C$30.50 in a research note on Wednesday. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Paramount Resources has a consensus rating of “Moderate Buy” and a consensus target price of C$31.22.

Paramount Resources Trading Down 0.1%

POU stock traded down C$0.02 during mid-day trading on Wednesday, reaching C$29.40. The company’s stock had a trading volume of 370,691 shares, compared to its average volume of 282,115. Paramount Resources has a 12 month low of C$14.50 and a 12 month high of C$30.07. The company has a market cap of C$4.22 billion, a price-to-earnings ratio of 3.13, a price-to-earnings-growth ratio of 0.14 and a beta of 0.19. The business’s 50 day moving average price is C$24.86 and its 200 day moving average price is C$23.40. The company has a current ratio of 3.35, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99.

Paramount Resources (TSE:POU) last posted its earnings results on Tuesday, March 3rd. The company reported C($0.03) earnings per share for the quarter. Paramount Resources had a return on equity of 47.09% and a net margin of 106.31%.The firm had revenue of C$262.50 million for the quarter. On average, equities research analysts predict that Paramount Resources will post 1.4075758 EPS for the current year.

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”.