Royal Bank Of Canada Increases Paramount Resources (TSE:POU) Price Target to C$35.00

Paramount Resources (TSE:POU) had its price objective raised by research analysts at Royal Bank Of Canada from C$32.00 to C$35.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 14.53% from the company’s current price.

A number of other research analysts also recently issued reports on POU. Scotiabank boosted their price objective on Paramount Resources from C$29.00 to C$31.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Canadian Imperial Bank of Commerce increased their target price on Paramount Resources from C$25.50 to C$30.50 in a research report on Wednesday, March 4th. Raymond James Financial increased their target price on Paramount Resources from C$29.00 to C$31.00 and gave the company an “outperform” rating in a research report on Wednesday, March 4th. ATB Cormark Capital Markets increased their price target on Paramount Resources from C$28.00 to C$33.00 and gave the company an “outperform” rating in a report on Wednesday, March 4th. Finally, Roth Mkm set a C$33.00 price target on Paramount Resources and gave the company a “buy” rating in a report on Wednesday, March 4th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$32.94.

Paramount Resources Stock Performance

Shares of TSE POU traded down C$0.33 during midday trading on Wednesday, hitting C$30.56. 178,904 shares of the company’s stock traded hands, compared to its average volume of 299,714. Paramount Resources has a 1 year low of C$18.10 and a 1 year high of C$31.42. The stock has a market capitalization of C$4.43 billion, a price-to-earnings ratio of 3.48, a price-to-earnings-growth ratio of 0.14 and a beta of -0.03. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.68 and a current ratio of 3.77. The firm has a fifty day moving average of C$28.97 and a 200 day moving average of C$25.97.

Paramount Resources (TSE:POU) last released its quarterly earnings results on Tuesday, May 12th. The company reported C$0.36 EPS for the quarter. Paramount Resources had a net margin of 129.11% and a return on equity of 48.07%. The firm had revenue of C$276.20 million during the quarter. On average, analysts forecast that Paramount Resources will post 1.4075758 earnings per share for the current year.

Insider Activity

In other news, insider John B. Williams sold 6,800 shares of the stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of C$30.45, for a total transaction of C$207,060.00. Following the transaction, the insider owned 171,285 shares of the company’s stock, valued at approximately C$5,215,628.25. This represents a 3.82% decrease in their position. Over the last 90 days, insiders sold 18,000 shares of company stock worth $546,140. 45.36% of the stock is currently owned by corporate insiders.

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”.