Paramount Resources (TSE:POU) Given New C$35.00 Price Target at CIBC

Paramount Resources (TSE:POU) had its target price lifted by research analysts at CIBC from C$30.00 to C$35.00 in a report issued on Monday, BayStreet.CA reports. The brokerage presently has a “neutral” rating on the stock. CIBC’s target price would indicate a potential upside of 15.21% from the company’s previous close.

Several other equities analysts have also commented on POU. National Bankshares increased their price objective on shares of Paramount Resources from C$37.50 to C$40.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. ATB Capital decreased their price target on shares of Paramount Resources from C$37.00 to C$36.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Scotiabank dropped their price objective on shares of Paramount Resources from C$30.00 to C$29.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. Royal Bank of Canada cut their target price on Paramount Resources from C$33.00 to C$32.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 7th. Finally, Raymond James lowered their price target on Paramount Resources from C$40.00 to C$36.00 and set an “outperform” rating for the company in a research report on Friday, January 19th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Paramount Resources has an average rating of “Moderate Buy” and an average target price of C$34.95.

Paramount Resources Stock Performance

Shares of POU opened at C$30.38 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83. The firm has a market cap of C$4.39 billion, a PE ratio of 9.58, a P/E/G ratio of 0.14 and a beta of 3.31. Paramount Resources has a 12 month low of C$24.59 and a 12 month high of C$33.80. The stock has a fifty day moving average price of C$28.20 and a 200-day moving average price of C$27.84.

Paramount Resources (TSE:POU) last announced its earnings results on Wednesday, March 6th. The company reported C$0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.95 by C($0.20). The business had revenue of C$470.50 million for the quarter, compared to analyst estimates of C$436.00 million. Paramount Resources had a net margin of 26.13% and a return on equity of 13.67%. Equities research analysts predict that Paramount Resources will post 2.5252525 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Paramount Resources news, Senior Officer Bernard K. Lee sold 20,000 shares of Paramount Resources stock in a transaction dated Friday, April 12th. The stock was sold at an average price of C$30.50, for a total transaction of C$610,000.00. In other Paramount Resources news, Director Dirk Jungé sold 4,027 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of C$28.56, for a total value of C$115,028.03. Also, Senior Officer Bernard K. Lee sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of C$30.50, for a total value of C$610,000.00. In the last three months, insiders have sold 69,655 shares of company stock valued at $2,021,257. Company insiders own 45.91% of the company’s stock.

Paramount Resources Company Profile

Paramount Resources Ltd. explores for and develops conventional and unconventional petroleum and natural gas reserves and resources in Canada. The company holds interests in the Karr and Wapiti Montney properties covering an area of 109,000 net acres located south of the city of Grande Prairie, Alberta; Kaybob North Duvernay development and natural gas producing properties covering an area of 124,000 net acres located in west-central Alberta; and Willesden Green Duvernay development in central Alberta and shale gas producing properties in the Horn River Basin in northeast British Columbia covering an area of 249,000 net acres.