BMO Capital Markets Raises Paramount Resources (TSE:POU) Price Target to C$40.00

Paramount Resources (TSE:POU) had its price objective increased by equities research analysts at BMO Capital Markets from C$38.50 to C$40.00 in a report issued on Wednesday, BayStreet.CA reports. BMO Capital Markets’ target price suggests a potential upside of 25.79% from the company’s current price.

A number of other equities analysts also recently commented on POU. CIBC boosted their price objective on Paramount Resources from C$35.00 to C$37.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Jefferies Financial Group decreased their target price on Paramount Resources from C$33.00 to C$31.00 in a research note on Thursday, March 7th. Cormark cut Paramount Resources from a “buy” rating to a “market perform” rating and decreased their target price for the stock from C$40.00 to C$37.50 in a research note on Thursday, March 7th. Stifel Nicolaus boosted their price objective on Paramount Resources from C$36.00 to C$37.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, National Bankshares boosted their price objective on Paramount Resources from C$37.50 to C$40.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$35.95.

Paramount Resources Stock Performance

Shares of Paramount Resources stock traded up C$0.33 during midday trading on Wednesday, hitting C$31.80. The company had a trading volume of 68,048 shares, compared to its average volume of 241,871. The stock has a market cap of C$4.65 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 0.14 and a beta of 3.19. The company has a quick ratio of 0.68, a current ratio of 0.67 and a debt-to-equity ratio of 0.84. The company has a fifty day simple moving average of C$31.69 and a 200 day simple moving average of C$28.79. Paramount Resources has a 12-month low of C$24.59 and a 12-month high of C$33.80.

Paramount Resources (TSE:POU) last issued its quarterly earnings data on Thursday, May 2nd. The company reported C$0.46 EPS for the quarter, missing analysts’ consensus estimates of C$0.59 by C($0.13). The firm 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%. As a group, analysts predict that Paramount Resources will post 1.8292264 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Senior Officer Rodrigo Sousa sold 10,000 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of C$32.70, for a total value of C$327,014.00. In other news, Director James Geral Bell sold 6,666 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of C$29.03, for a total value of C$193,513.98. Also, Senior Officer Rodrigo Sousa sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of C$32.70, for a total value of C$327,014.00. Over the last ninety days, insiders have sold 124,354 shares of company stock worth $3,906,333. 45.57% of the stock is owned by company 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.