Royal Bank Of Canada Increases Paramount Resources (TSE:POU) Price Target to C$37.00

Paramount Resources (TSE:POU) had its target price hoisted by research analysts at Royal Bank Of Canada from C$35.00 to C$37.00 in a report released on Friday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target points to a potential upside of 22.72% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Raymond James Financial boosted their target price on Paramount Resources from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. National Bank Financial raised their price objective on shares of Paramount Resources from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 13th. ATB Cormark Capital Markets boosted their price objective on shares of Paramount Resources from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a research report on Friday. BMO Capital Markets upped their target price on shares of Paramount Resources from C$35.00 to C$37.00 and gave the company an “outperform” rating in a report on Friday. Finally, Scotia increased their target price on shares of Paramount Resources from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a research report on Friday. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Paramount Resources presently has an average rating of “Moderate Buy” and an average target price of C$34.35.

Paramount Resources Stock Down 1.9%

Shares of Paramount Resources stock traded down C$0.59 during trading on Friday, hitting C$30.15. 85,346 shares of the stock were exchanged, compared to its average volume of 281,504. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.57 and a quick ratio of 0.68. The firm’s 50-day moving average price is C$28.98 and its 200 day moving average price is C$28.46. The stock has a market cap of C$4.38 billion, a price-to-earnings ratio of 75.37, a price-to-earnings-growth ratio of 0.14 and a beta of -0.25. Paramount Resources has a 12-month low of C$19.37 and a 12-month high of C$33.44.

Paramount Resources (TSE:POU) last posted its quarterly earnings results on Thursday, August 6th. The company reported C$0.47 earnings per share for the quarter. The company had revenue of C$317.90 million for the quarter. Paramount Resources had a return on equity of 1.96% and a net margin of 5.90%. As a group, analysts forecast that Paramount Resources will post 1.4075758 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider David Blake Reid sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of C$30.90, for a total value of C$772,500.00. Following the completion of the sale, the insider owned 172,313 shares in the company, valued at C$5,324,471.70. This represents a 12.67% decrease in their position. Also, insider Tyson Riddell sold 5,000 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of C$31.36, for a total transaction of C$156,800.00. Following the sale, the insider owned 14,458 shares of the company’s stock, valued at approximately C$453,402.88. This represents a 25.70% decrease in their position. In the last three months, insiders acquired 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 owned by 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”.