National Bankshares Raises Paramount Resources (TSE:POU) Price Target to C$40.00

Paramount Resources (TSE:POU) had its target price upped by analysts at National Bankshares from C$37.50 to C$40.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ target price would indicate a potential upside of 36.57% from the company’s current price.

A number of other research firms have also commented on POU. Scotiabank reduced their price objective on shares of Paramount Resources from C$30.00 to C$29.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th. Royal Bank of Canada lowered their price target on Paramount Resources from C$33.00 to C$32.00 and set a “sector perform” rating on the stock in a report on Thursday, March 7th. BMO Capital Markets set a C$37.00 price objective on Paramount Resources and gave the stock an “outperform” rating in a research note on Tuesday, April 9th. Stifel Nicolaus lowered their target price on Paramount Resources from C$33.50 to C$33.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. Finally, ATB Capital reduced 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 research report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$34.15.

Paramount Resources Price Performance

POU traded up C$0.49 on Friday, reaching C$29.29. The company had a trading volume of 113,093 shares, compared to its average volume of 257,659. The company has a fifty day moving average of C$28.00 and a 200-day moving average of C$27.89. 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 company has a market capitalization of C$4.23 billion, a P/E ratio of 9.24, a PEG ratio of 0.14 and a beta of 3.31. Paramount Resources has a one year low of C$24.59 and a one year high of C$33.80.

Paramount Resources (TSE:POU) last posted its quarterly 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 company had revenue of C$470.50 million during the quarter, compared to the consensus estimate of C$436.00 million. Paramount Resources had a net margin of 26.13% and a return on equity of 13.67%. As a group, equities research analysts anticipate that Paramount Resources will post 2.5252525 earnings per share for the current year.

Insiders Place Their Bets

In related news, Senior Officer Michael S. Han sold 30,040 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of C$28.00, for a total value of C$841,120.00. In other news, Director James Geral Bell sold 6,666 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of C$29.03, for a total transaction of C$193,513.98. Also, Senior Officer Michael S. Han sold 30,040 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of C$28.00, for a total value of C$841,120.00. Insiders have sold 69,655 shares of company stock worth $2,021,257 in the last 90 days. Company insiders own 45.91% of the company’s stock.

About Paramount Resources

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.