Paramount Resources (TSE:POU) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Paramount Resources (TSE:POU) had its price objective upped by equities research analysts at BMO Capital Markets from C$35.00 to C$37.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ target price would suggest a potential upside of 22.72% from the company’s previous close.

A number of other research firms also recently issued reports on POU. Royal Bank Of Canada boosted their target price on shares of Paramount Resources from C$32.00 to C$35.00 and gave the company a “sector perform” rating in a report on Wednesday, May 13th. National Bank Financial increased their price target on shares of Paramount Resources from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 13th. Raymond James Financial boosted their price objective on shares of Paramount Resources from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. ATB Cormark Capital Markets upped their price objective on Paramount Resources from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Scotiabank raised Paramount Resources to a “hold” rating in a research report on Friday, June 26th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$34.35.

Paramount Resources Trading Down 1.9%

TSE POU traded down C$0.59 during trading hours on Friday, hitting C$30.15. 85,346 shares of the company’s stock were exchanged, compared to its average volume of 281,504. The business’s 50 day moving average is C$28.98 and its 200-day moving average is C$28.46. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 2.57. Paramount Resources has a 12-month low of C$19.37 and a 12-month high of C$33.44. The firm has a market capitalization of C$4.38 billion, a P/E ratio of 75.37, a price-to-earnings-growth ratio of 0.14 and a beta of -0.25.

Paramount Resources (TSE:POU) last posted its quarterly earnings results on Thursday, August 6th. The company reported C$0.47 EPS for the quarter. Paramount Resources had a return on equity of 1.96% and a net margin of 5.90%.The company had revenue of C$317.90 million during the quarter. As a group, analysts anticipate that Paramount Resources will post 1.4075758 EPS for the current fiscal year.

Insider Transactions at Paramount Resources

In other Paramount Resources news, Director James Geral Bell sold 2,050 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of C$27.17, for a total transaction of C$55,698.50. Also, Director Dirk Jungé sold 8,850 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of C$30.97, for a total value of C$274,084.50. Following the completion of the sale, the director owned 57,915 shares of the company’s stock, valued at approximately C$1,793,627.55. This trade represents a 13.26% decrease in their position. In the last quarter, insiders acquired 10,148 shares of company stock worth $308,401 and sold 44,800 shares worth $1,388,875. 45.36% of the stock is currently owned by company insiders.

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”.