Paramount Resources (TSE:POU) Given New C$43.00 Price Target at Scotiabank

Paramount Resources (TSE:POU) had its target price hoisted by Scotiabank from C$42.00 to C$43.00 in a report issued on Friday, BayStreet.CA reports. Scotiabank’s target price points to a potential upside of 35.39% from the stock’s current price.

A number of other equities analysts have also issued reports on POU. National Bankshares raised their target price 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. CIBC lifted their price objective on shares of Paramount Resources from C$35.00 to C$37.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Stifel Nicolaus boosted their price target on shares of Paramount Resources from C$36.00 to C$37.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Royal Bank of Canada boosted their price target on shares of Paramount Resources from C$34.00 to C$36.00 and gave the stock a “sector perform” rating in a research note on Friday, May 3rd. Finally, BMO Capital Markets boosted their price objective on shares of Paramount Resources from C$38.50 to C$40.00 in a report on Wednesday, July 3rd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$37.35.

Paramount Resources Stock Up 0.9 %

TSE POU traded up C$0.28 during trading on Friday, reaching C$31.76. 60,137 shares of the company’s stock were exchanged, compared to its average volume of 239,199. The company has a 50 day moving average price of C$31.67 and a two-hundred day moving average price of C$28.99. The stock has a market cap of C$4.64 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 0.14 and a beta of 3.19. Paramount Resources has a 1 year low of C$24.59 and a 1 year high of C$33.80. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.68 and a current ratio of 0.67.

Paramount Resources (TSE:POU) last released its quarterly earnings data on Thursday, May 2nd. The company reported C$0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.59 by C($0.13). The business had revenue of C$452.30 million for the quarter, compared to analyst estimates of C$415.00 million. Paramount Resources had a return on equity of 9.92% and a net margin of 19.97%. On average, equities research analysts anticipate that Paramount Resources will post 1.8292264 EPS for the current fiscal year.

Insider Activity

In related news, Senior Officer John B. Williams sold 2,532 shares of Paramount Resources stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of C$31.83, for a total transaction of C$80,593.56. In other Paramount Resources news, Senior Officer Bernard K. Lee sold 5,000 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of C$30.94, for a total value of C$154,721.00. Also, Senior Officer John B. Williams sold 2,532 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of C$31.83, for a total transaction of C$80,593.56. Insiders sold 85,661 shares of company stock valued at $2,750,991 in the last ninety days. Company insiders own 45.57% of the company’s stock.

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.