Paramount Resources (TSE:POU) Upgraded at Scotiabank

Paramount Resources (TSE:POU) was upgraded by stock analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a research note issued on Monday, BayStreet reports. The brokerage currently has a C$42.00 price objective on the stock, up from their prior price objective of C$40.00. Scotiabank‘s price target suggests a potential upside of 36.10% from the company’s previous close.

Several other research firms also recently commented on POU. Scotia upped their price target on shares of Paramount Resources from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. Royal Bank Of Canada boosted their target price on Paramount Resources from C$35.00 to C$37.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. ATB Cormark Capital Markets raised their price objective on Paramount Resources from C$35.00 to C$37.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Finally, BMO Capital Markets boosted their target price on shares of Paramount Resources from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Paramount Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of C$35.45.

Paramount Resources Stock Performance

TSE POU traded down C$0.43 on Monday, hitting C$30.86. 323,880 shares of the stock were exchanged, compared to its average volume of 282,552. The business’s fifty day moving average is C$32.18 and its 200 day moving average is C$29.69. Paramount Resources has a 52 week low of C$21.69 and a 52 week high of C$35.32. The company has a market capitalization of C$4.50 billion, a PE ratio of -16.59, a P/E/G ratio of 0.14 and a beta of -0.07. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.30 and a quick ratio of 0.68.

Paramount Resources (TSE:POU) last posted its earnings results on Thursday, November 5th. The company reported C($2.65) earnings per share for the quarter. Paramount Resources had a negative return on equity of 10.12% and a negative net margin of 22.36%. The business had revenue of C$257.10 million for the quarter. Research analysts anticipate that Paramount Resources will post 1.41 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”.