Paramount Resources (TSE:POU) Price Target Raised to C$25.00 at Scotiabank

Paramount Resources (TSE:POU) had its target price hoisted by equities researchers at Scotiabank from C$19.00 to C$25.00 in a research note issued to investors on Thursday, BayStreet.CA reports. Scotiabank’s price target suggests a potential upside of 25.88% from the stock’s current price.

Other analysts also recently issued reports about the stock. BMO Capital Markets lifted their price objective on shares of Paramount Resources from C$19.00 to C$20.00 and gave the company a “na” rating in a research report on Monday, July 19th. Royal Bank of Canada lifted their price objective on shares of Paramount Resources to C$16.00 and gave the company a “sector perform” rating in a research report on Friday, June 18th. Cormark boosted their price target on shares of Paramount Resources from C$16.50 to C$20.00 and gave the stock a “na” rating in a research report on Monday, June 21st. National Bankshares upgraded shares of Paramount Resources from a “sector perform” rating to a “buy” rating and boosted their price target for the stock from C$19.00 to C$28.00 in a research report on Tuesday, September 28th. Finally, National Bank Financial raised shares of Paramount Resources to an “outperform” rating and set a C$28.00 target price on the stock in a research report on Tuesday, September 28th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$19.68.

Shares of TSE POU traded up C$0.64 during midday trading on Thursday, hitting C$19.86. The company’s stock had a trading volume of 126,804 shares, compared to its average volume of 340,837. Paramount Resources has a 1-year low of C$2.14 and a 1-year high of C$20.68. The firm’s fifty day moving average price is C$15.84 and its 200-day moving average price is C$14.44. The company has a debt-to-equity ratio of 31.31, a quick ratio of 0.30 and a current ratio of 0.46. The firm has a market cap of C$2.65 billion and a P/E ratio of 20.11.

Paramount Resources (TSE:POU) last issued its quarterly earnings data on Wednesday, August 4th. The company reported C$0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C($0.01) by C$0.02. The firm had revenue of C$274.75 million during the quarter. As a group, research analysts predict that Paramount Resources will post 1.7 earnings per share for the current fiscal year.

In other Paramount Resources news, Senior Officer David Blake Reid sold 13,000 shares of Paramount Resources stock in a transaction that occurred on Monday, September 27th. The shares were sold at an average price of C$18.00, for a total value of C$234,000.00. Following the completion of the sale, the insider now directly owns 11,547 shares in the company, valued at C$207,846. Insiders acquired 4,700 shares of company stock valued at $63,475 over the last quarter.

About Paramount Resources

Paramount Resources Ltd., an independent energy company, explores for, develops, produces, and markets natural gas, crude oil, and natural gas liquids in Canada. The company's principal properties are the Montney and Duvernay developments located in Alberta and British Columbia. It also invests in public and private corporations.

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