Paramount Resources (TSE:POU) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Paramount Resources (TSE:POU) had its target price lifted by investment analysts at Royal Bank Of Canada from C$26.00 to C$30.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 2.04% from the stock’s current price.

A number of other research firms have also issued reports on POU. Raymond James Financial upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Thursday, January 15th. Jefferies Financial Group decreased their price target on shares of Paramount Resources from C$29.00 to C$28.00 in a research report on Tuesday, January 20th. Roth Mkm set a C$33.00 price objective on shares of Paramount Resources and gave the company a “buy” rating in a research note on Wednesday. Scotiabank lifted their target price on Paramount Resources from C$29.00 to C$31.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Finally, Canadian Imperial Bank of Commerce increased their target price on shares of Paramount Resources from C$25.50 to C$30.50 in a research report on Wednesday. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Paramount Resources has an average rating of “Moderate Buy” and a consensus target price of C$31.22.

Paramount Resources Stock Down 0.1%

TSE POU traded down C$0.02 on Wednesday, hitting C$29.40. 370,691 shares of the stock were exchanged, compared to its average volume of 282,115. The company has a quick ratio of 0.68, a current ratio of 3.35 and a debt-to-equity ratio of 0.99. Paramount Resources has a fifty-two week low of C$14.50 and a fifty-two week high of C$30.07. The company has a market cap of C$4.22 billion, a PE ratio of 3.13, a PEG ratio of 0.14 and a beta of 0.19. The company has a 50-day moving average price of C$24.86 and a 200-day moving average price of C$23.40.

Paramount Resources (TSE:POU) last announced its earnings results on Tuesday, March 3rd. The company reported C($0.03) EPS for the quarter. Paramount Resources had a net margin of 106.31% and a return on equity of 47.09%. The business had revenue of C$262.50 million during the quarter. Sell-side analysts anticipate that Paramount Resources will post 1.4075758 EPS for the current fiscal year.

About Paramount Resources

Paramount is an independent, publicly traded Canadian energy company that explores for and develops both conventional and unconventional petroleum and natural gas, including longer-term strategic exploration and pre-development plays. The Company’s principal properties are located in Alberta and British Columbia. Paramount’s class A common shares are listed on the Toronto Stock Exchange under the symbol “POU”.