BMO Capital Markets Boosts Paramount Resources (TSE:POU) Price Target to C$38.50

Paramount Resources (TSE:POU) had its price target boosted by equities research analysts at BMO Capital Markets from C$37.00 to C$38.50 in a research note issued on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 20.12% from the company’s current price.

Other equities analysts also recently issued reports about the company. Raymond James lowered their price objective on Paramount Resources from C$40.00 to C$36.00 and set an “outperform” rating for the company in a research report on Friday, January 19th. Royal Bank of Canada dropped their price objective on shares of Paramount Resources from C$33.00 to C$32.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 7th. National Bankshares lifted their price objective on shares of Paramount Resources from C$37.50 to C$40.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Cormark lowered Paramount Resources from a “buy” rating to a “market perform” rating and dropped their target price for the company from C$40.00 to C$37.50 in a report on Thursday, March 7th. Finally, Stifel Nicolaus upped their price objective on Paramount Resources from C$36.00 to C$37.00 and gave the stock a “buy” rating in a research report on Friday. Three equities research 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 an average rating of “Moderate Buy” and a consensus target price of C$35.80.

Paramount Resources Stock Up 0.2 %

POU traded up C$0.07 during trading hours on Friday, hitting C$32.05. 289,838 shares of the company’s stock were exchanged, compared to its average volume of 265,621. The firm has a market cap of C$4.63 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 0.14 and a beta of 3.23. Paramount Resources has a 12-month low of C$24.59 and a 12-month high of C$33.80. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83. The firm has a 50 day moving average of C$28.74 and a 200 day moving average of C$27.94.

Paramount Resources (TSE:POU) last announced its quarterly earnings data on Wednesday, March 6th. The company reported C$0.75 earnings per share (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 company had revenue of C$470.50 million during the quarter, compared to analyst estimates of C$436.00 million. Analysts predict that Paramount Resources will post 2.3708207 EPS for the current fiscal year.

Insider Activity

In related news, Senior Officer Michael S. Han sold 30,040 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of C$28.00, for a total transaction of C$841,120.00. In other news, Senior Officer Bernard K. Lee sold 20,000 shares of the business’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. Also, Senior Officer Michael S. Han sold 30,040 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of C$28.00, for a total value of C$841,120.00. Insiders have sold 69,655 shares of company stock valued at $2,021,257 in the last ninety days. 45.75% of the stock is currently owned by company 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.