ATB Cormark Capital Markets Issues Positive Forecast for Paramount Resources (TSE:POU) Stock Price

Paramount Resources (TSE:POU) had its price target lifted 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 target would indicate a potential upside of 12.24% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Royal Bank Of Canada upped their target price on shares of Paramount Resources from C$26.00 to C$30.00 and gave the company 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 research note on Thursday, January 15th. Scotiabank raised their target price on shares of 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. Finally, Jefferies Financial Group dropped their price target on shares of Paramount Resources from C$29.00 to C$28.00 in a research report on Tuesday, January 20th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$31.22.

Paramount Resources Stock Down 0.1%

TSE POU traded down C$0.02 during trading on Wednesday, hitting C$29.40. 370,691 shares of the company traded hands, compared to its average volume of 282,115. The business has a fifty day simple moving average of C$24.86 and a 200 day simple moving average of 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 has a 12 month low of C$14.50 and a 12 month high of C$30.07. The company has a market capitalization of C$4.22 billion, a P/E ratio of 3.13, a PEG ratio of 0.14 and a beta of 0.19.

Paramount Resources (TSE:POU) last released 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. As a group, sell-side 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”.