Scotiabank Increases Paramount Resources (TSE:POU) Price Target to C$31.00

Paramount Resources (TSE:POU) had its target price hoisted by stock analysts at Scotiabank from C$29.00 to C$31.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price target points to a potential upside of 29.60% from the company’s current price.

POU has been the topic of a number of other reports. Raymond James Financial upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Thursday, January 15th. National Bankshares increased their price target on shares of Paramount Resources from C$25.00 to C$27.50 and gave the stock a “sector perform” rating in a research report on Thursday, September 25th. Jefferies Financial Group lowered their price objective on Paramount Resources from C$29.00 to C$28.00 in a report on Tuesday. CIBC increased their target price on Paramount Resources from C$25.00 to C$26.00 in a report on Wednesday, October 15th. Finally, Royal Bank Of Canada lifted their target price on Paramount Resources from C$23.00 to C$26.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 23rd. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$27.21.

Paramount Resources Stock Down 0.5%

POU stock traded down C$0.12 during trading on Wednesday, reaching C$23.92. The stock had a trading volume of 153,319 shares, compared to its average volume of 274,008. The company has a current ratio of 0.62, a quick ratio of 0.68 and a debt-to-equity ratio of 2.06. The firm has a fifty day moving average price of C$24.09 and a 200 day moving average price of C$22.42. The company has a market capitalization of C$3.43 billion, a P/E ratio of 2.55, a PEG ratio of 0.14 and a beta of 0.29. Paramount Resources has a 1-year low of C$14.33 and a 1-year high of C$32.83.

Paramount Resources (TSE:POU) last announced its earnings results on Tuesday, November 4th. The company reported C($0.02) earnings per share (EPS) for the quarter. Paramount Resources had a return on equity of 10.06% and a net margin of 18.92%.The business had revenue of C$187.30 million for the quarter. On average, equities analysts anticipate that Paramount Resources will post 1.4075758 earnings per share for the current year.

Paramount Resources Company Profile

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”.