Royal Bank Of Canada Forecasts Strong Price Appreciation for Paramount Resources (TSE:POU) Stock

Paramount Resources (TSE:POU) had its price target increased by equities research analysts at Royal Bank Of Canada from C$26.00 to C$30.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 2.04% from the company’s previous close.

A number of other research firms also recently commented on POU. Scotiabank increased their price objective on shares of 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. Jefferies Financial Group reduced their price objective on shares of Paramount Resources from C$29.00 to C$28.00 in a research report on Tuesday, January 20th. 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. Roth Mkm set a C$33.00 price objective on Paramount Resources and gave the stock a “buy” rating in a report on Wednesday. Finally, Raymond James Financial raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Thursday, January 15th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$31.22.

Paramount Resources Stock Down 0.1%

POU traded down C$0.02 during trading on Wednesday, hitting C$29.40. The company had a trading volume of 370,691 shares, compared to its average volume of 282,115. The company has a quick ratio of 0.68, a current ratio of 3.35 and a debt-to-equity ratio of 0.99. The company has a market capitalization of C$4.22 billion, a PE ratio of 3.13, a PEG ratio of 0.14 and a beta of 0.19. Paramount Resources has a one year low of C$14.50 and a one year high of C$30.07. The firm’s 50-day moving average price is C$24.86 and its 200 day moving average price is C$23.40.

Paramount Resources (TSE:POU) last released its earnings results on Tuesday, March 3rd. The company reported C($0.03) EPS for the quarter. Paramount Resources had a net margin of 106.31% and a return on equity of 47.09%. The firm had revenue of C$262.50 million during the quarter. As a group, equities analysts expect that Paramount Resources will post 1.4075758 earnings per share for the current year.

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”.