Paramount Resources (TSE:POU) Price Target Cut to C$7.75

Paramount Resources (TSE:POU) had its price objective reduced by CIBC from C$11.00 to C$7.75 in a research report report published on Thursday morning, BayStreet.CA reports.

Other analysts also recently issued reports about the company. National Bank Financial decreased their target price on Rocky Mountain Dealerships from C$10.00 to C$8.00 in a research report on Tuesday, July 2nd. CSFB reiterated a neutral rating and set a C$32.00 target price on shares of Vermilion Energy in a research report on Tuesday, July 16th. Raymond James reiterated a buy rating and set a $26.00 target price on shares of Propetro in a research report on Tuesday, July 2nd. Royal Bank of Canada reiterated a buy rating and set a $2.50 target price on shares of in a research report on Thursday. Finally, Laurentian lifted their target price on Paramount Resources from C$12.50 to C$13.00 in a research report on Thursday, May 9th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of C$9.68.

TSE:POU opened at C$6.72 on Thursday. Paramount Resources has a twelve month low of C$5.75 and a twelve month high of C$15.84. The company has a market capitalization of $877.78 million and a P/E ratio of -2.32. The stock’s fifty day simple moving average is C$6.70. The company has a debt-to-equity ratio of 40.00, a quick ratio of 0.47 and a current ratio of 0.51.

Paramount Resources (TSE:POU) last released its earnings results on Wednesday, May 8th. The company reported C($0.59) earnings per share for the quarter, topping the consensus estimate of C($4.41) by C$3.82. The business had revenue of C$246.05 million for the quarter, compared to the consensus estimate of C$254.00 million. On average, analysts forecast that Paramount Resources will post -0.85 EPS for the current fiscal year.

About Paramount Resources

Paramount Resources Ltd., an independent energy company, explores for, develops, produces, and markets natural gas, crude oil, and natural gas liquids in Canada. Its principal properties are the Montney and Duvernay developments covering approximately 3.0 million net acres located in Alberta and British Columbia.

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Analyst Recommendations for Paramount Resources (TSE:POU)

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