BMO Capital Markets Boosts Paramount Resources (TSE:POU) Price Target to C$38.50

Paramount Resources (TSE:POU) had its target price hoisted by BMO Capital Markets from C$37.00 to C$38.50 in a report issued on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 20.12% from the company’s current price.

Several other research analysts have also issued reports on the stock. Jefferies Financial Group decreased their price target on shares of Paramount Resources from C$33.00 to C$31.00 in a research report on Thursday, March 7th. Raymond James decreased their target price on Paramount Resources from C$40.00 to C$36.00 and set an “outperform” rating on the stock in a report on Friday, January 19th. Cormark lowered Paramount Resources from a “buy” rating to a “market perform” rating and cut their target price for the stock from C$40.00 to C$37.50 in a research report on Thursday, March 7th. CIBC increased their price target on Paramount Resources from C$30.00 to C$35.00 and gave the company a “neutral” rating in a research report on Monday, April 22nd. Finally, Scotiabank cut their price objective on Paramount Resources from C$30.00 to C$29.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$35.80.

Paramount Resources Price Performance

Shares of POU traded up C$0.07 during midday trading on Friday, reaching C$32.05. The stock had a trading volume of 289,838 shares, compared to its average volume of 265,621. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.71 and a quick ratio of 0.68. The company has a market capitalization of C$4.63 billion, a P/E ratio of 10.11, a P/E/G ratio of 0.14 and a beta of 3.23. The firm’s 50 day moving average price is C$28.74 and its 200-day moving average price is C$27.94. Paramount Resources has a 52 week low of C$24.59 and a 52 week high of C$33.80.

Paramount Resources (TSE:POU) last issued its quarterly earnings results on Wednesday, March 6th. The company reported C$0.75 EPS for the quarter, missing the consensus estimate of C$0.95 by C($0.20). Paramount Resources had a return on equity of 13.67% and a net margin of 26.13%. The business had revenue of C$470.50 million during the quarter, compared to the consensus estimate of C$436.00 million. On average, analysts forecast that Paramount Resources will post 2.3708207 earnings per share for the current fiscal year.

Insider Buying and Selling at Paramount Resources

In other Paramount Resources news, Senior Officer Michael S. Han sold 30,040 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of C$28.00, for a total value of C$841,120.00. In other Paramount Resources news, Senior Officer Michael S. Han sold 30,040 shares of Paramount Resources stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of C$28.00, for a total value of C$841,120.00. Also, Senior Officer John B. Williams sold 8,000 shares of the stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of C$29.60, for a total transaction of C$236,800.00. Insiders sold 69,655 shares of company stock valued at $2,021,257 in the last quarter. Company insiders own 45.75% 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.