Paramount Resources (TSE:POU) Price Target Raised to C$38.00

Paramount Resources (TSE:POU) had its price objective upped by analysts at National Bank Financial from C$36.00 to C$38.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. National Bank Financial’s target price would indicate a potential upside of 24.35% from the company’s previous close.

A number of other brokerages also recently weighed in on POU. ATB Cormark Capital Markets boosted their target price on shares of Paramount Resources from C$28.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 4th. BMO Capital Markets boosted their price objective on shares of Paramount Resources from C$24.00 to C$32.00 and gave the company an “outperform” rating in a report on Wednesday, March 4th. Jefferies Financial Group decreased their price objective on shares of Paramount Resources from C$29.00 to C$28.00 in a report on Tuesday, January 20th. Roth Mkm set a C$33.00 price target on shares of Paramount Resources and gave the company a “buy” rating in a report on Wednesday, March 4th. Finally, Canadian Imperial Bank of Commerce increased their target price on shares of Paramount Resources from C$25.50 to C$30.50 in a report on Wednesday, March 4th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$32.94.

Paramount Resources Price Performance

TSE:POU traded down C$0.33 on Wednesday, reaching C$30.56. The stock had a trading volume of 178,904 shares, compared to its average volume of 299,714. The company has a market capitalization of C$4.43 billion, a P/E ratio of 3.48, a price-to-earnings-growth ratio of 0.14 and a beta of -0.03. Paramount Resources has a 1-year low of C$18.10 and a 1-year high of C$31.42. The company has a quick ratio of 0.68, a current ratio of 3.77 and a debt-to-equity ratio of 0.94. The stock has a fifty day moving average price of C$28.97 and a 200-day moving average price of C$25.97.

Paramount Resources (TSE:POU) last released its quarterly earnings results on Tuesday, May 12th. The company reported C$0.36 EPS for the quarter. The firm had revenue of C$276.20 million for the quarter. Paramount Resources had a net margin of 129.11% and a return on equity of 48.07%. Research analysts forecast that Paramount Resources will post 1.4075758 EPS for the current year.

Insider Buying and Selling

In related news, insider John B. Williams sold 6,800 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of C$30.45, for a total transaction of C$207,060.00. Following the transaction, the insider directly owned 171,285 shares of the company’s stock, valued at approximately C$5,215,628.25. This trade represents a 3.82% decrease in their ownership of the stock. Insiders have sold 18,000 shares of company stock worth $546,140 over the last 90 days. 45.36% of the stock is currently owned by company 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”.