Paramount Resources (TSE:POU) Stock Rating Raised to “Sector Outperform” at Scotiabank

Paramount Resources (TSE:POU) was upgraded by stock analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a report released on Monday, BayStreet reports. The firm presently has a C$42.00 price target on the stock, up from their prior price target of C$40.00. Scotiabank‘s price objective would suggest a potential upside of 36.10% from the stock’s current price.

POU has been the subject of a number of other reports. Scotia upped their target price on Paramount Resources from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. BMO Capital Markets upped their price target on Paramount Resources from C$35.00 to C$37.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. ATB Cormark Capital Markets increased their price objective on Paramount Resources from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Finally, Royal Bank Of Canada lifted their price objective on Paramount Resources from C$35.00 to C$37.00 and gave the company a “sector perform” rating in a report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$35.45.

Paramount Resources Trading Down 1.4%

POU traded down C$0.43 during trading on Monday, reaching C$30.86. The company had a trading volume of 323,880 shares, compared to its average volume of 282,552. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.68 and a current ratio of 1.30. Paramount Resources has a 12-month low of C$21.69 and a 12-month high of C$35.32. The company has a market cap of C$4.50 billion, a price-to-earnings ratio of -16.59, a PEG ratio of 0.14 and a beta of -0.07. The firm’s 50-day simple moving average is C$32.18 and its 200 day simple moving average is C$29.69.

Paramount Resources (TSE:POU) last announced its quarterly earnings data on Thursday, November 5th. The company reported C($2.65) EPS for the quarter. The company had revenue of C$257.10 million for the quarter. Paramount Resources had a negative net margin of 22.36% and a negative return on equity of 10.12%. Equities research analysts anticipate that Paramount Resources will post 1.41 earnings per share for the current 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”.