Paramount Resources (TSE:POU) Price Target Increased to C$40.00 by Analysts at BMO Capital Markets

Paramount Resources (TSE:POU) had its price target hoisted by analysts at BMO Capital Markets from C$38.50 to C$40.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. BMO Capital Markets’ price target would indicate a potential upside of 25.94% from the company’s previous close.

A number of other research analysts have also recently issued reports on POU. Scotiabank cut their price objective on Paramount Resources from C$30.00 to C$29.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Jefferies Financial Group cut their price objective on Paramount Resources from C$33.00 to C$31.00 in a report on Thursday, March 7th. National Bankshares lifted their price objective on Paramount Resources from C$37.50 to C$40.00 and gave the company an “outperform” rating in a report on Friday, April 19th. ATB Capital cut their price objective on Paramount Resources from C$37.00 to C$36.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Finally, Cormark cut Paramount Resources from a “buy” rating to a “market perform” rating and cut their price objective for the company from C$40.00 to C$37.50 in a report on Thursday, March 7th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$35.95.

Paramount Resources Stock Up 0.4 %

POU opened at C$31.76 on Wednesday. Paramount Resources has a fifty-two week low of C$24.59 and a fifty-two week high of C$33.80. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.67 and a quick ratio of 0.68. The firm’s fifty day moving average price is C$31.71 and its two-hundred day moving average price is C$28.83. The company has a market capitalization of C$4.64 billion, a P/E ratio of 13.81, a P/E/G ratio of 0.14 and a beta of 3.19.

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

Insider Activity at Paramount Resources

In other Paramount Resources news, Senior Officer John B. Williams sold 11,929 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of C$31.00, for a total transaction of C$369,799.00. In other Paramount Resources news, Senior Officer Rodrigo Sousa sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of C$32.70, for a total transaction of C$327,014.00. Also, Senior Officer John B. Williams sold 11,929 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of C$31.00, for a total value of C$369,799.00. Insiders sold 120,327 shares of company stock valued at $3,791,305 over the last ninety days. 45.57% of the stock is owned by 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.