Raymond James Financial Issues Positive Forecast for Paramount Resources (TSE:POU) Stock Price

Paramount Resources (TSE:POU) had its target price increased by stock analysts at Raymond James Financial from C$34.00 to C$36.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James Financial’s price target points to a potential upside of 17.76% from the company’s previous close.

POU has been the subject of a number of other research reports. Canadian Imperial Bank of Commerce lifted their target price on shares of Paramount Resources from C$25.50 to C$30.50 in a report on Wednesday, March 4th. Roth Mkm set a C$33.00 price objective on Paramount Resources and gave the stock a “buy” rating in a research note on Wednesday, March 4th. National Bank Financial lifted their price objective on Paramount Resources from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Scotiabank lifted their price objective on Paramount Resources from C$29.00 to C$31.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada lifted their price objective on Paramount Resources from C$32.00 to C$35.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$32.94.

Paramount Resources Trading Down 1.0%

Shares of TSE POU traded down C$0.32 during mid-day trading on Wednesday, hitting C$30.57. The company’s stock had a trading volume of 187,104 shares, compared to its average volume of 299,789. Paramount Resources has a one year low of C$18.10 and a one year high of C$31.42. The company’s fifty day simple moving average is C$28.97 and its 200-day simple moving average is C$25.97. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.77 and a quick ratio of 0.68. The stock has a market cap of C$4.43 billion, a price-to-earnings ratio of 3.48, a price-to-earnings-growth ratio of 0.14 and a beta of -0.03.

Paramount Resources (TSE:POU) last announced its quarterly earnings data on Tuesday, May 12th. The company reported C$0.36 earnings per share (EPS) for the quarter. Paramount Resources had a net margin of 129.11% and a return on equity of 48.07%. The firm had revenue of C$276.20 million for the quarter. On average, sell-side analysts anticipate that Paramount Resources will post 1.4075758 earnings per share for the current fiscal year.

Insider Transactions at Paramount Resources

In other Paramount Resources news, insider John B. Williams sold 6,800 shares of the business’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of C$30.45, for a total value of C$207,060.00. Following the completion of the transaction, the insider directly owned 171,285 shares of the company’s stock, valued at approximately C$5,215,628.25. The trade was a 3.82% decrease in their ownership of the stock. Insiders sold 18,000 shares of company stock valued at $546,140 over the last ninety days. 45.36% of the stock is currently owned by insiders.

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”.