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

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

A number of other analysts also recently commented on POU. Royal Bank Of Canada boosted their target price on shares of Paramount Resources from C$23.00 to C$26.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 23rd. Raymond James Financial raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Thursday, January 15th. Jefferies Financial Group reduced their price objective on Paramount Resources from C$29.00 to C$28.00 in a research note on Tuesday. National Bankshares lifted their target price on Paramount Resources from C$25.00 to C$27.50 and gave the stock a “sector perform” rating in a report on Thursday, September 25th. Finally, CIBC upped their target price on Paramount Resources from C$25.00 to C$26.00 in a report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Paramount Resources presently has an average rating of “Hold” and a consensus price target of C$27.21.

Paramount Resources Price Performance

POU 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 stock has a 50 day moving average of C$24.09 and a two-hundred day moving average of C$22.42. The company has a quick ratio of 0.68, a current ratio of 0.62 and a debt-to-equity ratio of 2.06. The firm has a market capitalization of C$3.43 billion, a price-to-earnings ratio of 2.55, a price-to-earnings-growth 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 quarterly earnings data on Tuesday, November 4th. The company reported C($0.02) earnings per share for the quarter. Paramount Resources had a net margin of 18.92% and a return on equity of 10.06%. The firm had revenue of C$187.30 million during the quarter. As a group, equities analysts anticipate that Paramount Resources will post 1.4075758 EPS for the current fiscal 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”.