Paramount Resources (TSE:POU) Price Target Cut to C$9.00

Paramount Resources (TSE:POU) had its price objective trimmed by Royal Bank of Canada from C$10.00 to C$9.00 in a research report report published on Thursday, BayStreet.CA reports.

A number of other equities analysts have also weighed in on POU. National Bank Financial dropped their price target on shares of Rocky Mountain Dealerships from C$10.00 to C$8.00 in a research report on Tuesday, July 2nd. Laurentian upped their price target on shares of Paramount Resources from C$12.50 to C$13.00 in a research report on Thursday, May 9th. GMP Securities reiterated a buy rating and issued a $22.25 price target on shares of SPDR Wells Fargo Preferred Stock ETF in a research report on Friday, June 28th. CSFB reiterated a neutral rating and issued a C$32.00 price target on shares of Vermilion Energy in a research report on Tuesday, July 16th. Finally, Raymond James reiterated a buy rating and issued a $26.00 price target on shares of Propetro in a research report on Tuesday, July 2nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of C$9.68.

Shares of POU stock opened at C$6.72 on Thursday. Paramount Resources has a 12 month low of C$5.75 and a 12 month high of C$15.84. The stock has a market capitalization of $877.78 million and a PE ratio of -2.32. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 40.00. The firm’s 50 day simple moving average is C$6.70.

Paramount Resources (TSE:POU) last posted its quarterly earnings results on Wednesday, May 8th. The company reported C($0.59) earnings per share for the quarter, topping the Zacks’ consensus estimate of C($4.41) by C$3.82. The firm had revenue of C$246.05 million during the quarter, compared to the consensus estimate of C$254.00 million. On average, sell-side analysts predict that Paramount Resources will post -0.85 earnings per share for the current year.

Paramount Resources Company Profile

Paramount Resources Ltd., an independent energy company, explores for, develops, produces, and markets natural gas, crude oil, and natural gas liquids in Canada. Its principal properties are the Montney and Duvernay developments covering approximately 3.0 million net acres located in Alberta and British Columbia.

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Analyst Recommendations for Paramount Resources (TSE:POU)

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