CIBC Increases Paramount Resources (TSE:POU) Price Target to C$35.00

Paramount Resources (TSE:POU) had its price target raised by equities researchers at CIBC from C$30.00 to C$35.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. The brokerage presently has a “neutral” rating on the stock. CIBC’s target price would suggest a potential upside of 15.21% from the company’s current price.

Several other research firms have also recently issued reports on POU. ATB Capital lowered their price objective on Paramount Resources from C$37.00 to C$36.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. BMO Capital Markets set a C$37.00 price target on shares of Paramount Resources and gave the company an “outperform” rating in a report on Tuesday, April 9th. Jefferies Financial Group decreased their price objective on shares of Paramount Resources from C$33.00 to C$31.00 in a report on Thursday, March 7th. Royal Bank of Canada lowered their price objective on shares of 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, National Bankshares lifted their target price on shares of Paramount Resources from C$37.50 to C$40.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$34.95.

Paramount Resources Stock Up 3.3 %

POU stock opened at C$30.38 on Monday. The business has a 50 day moving average of C$28.20 and a 200 day moving average of C$27.84. The firm has a market cap of C$4.39 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 0.14 and a beta of 3.31. Paramount Resources has a twelve month low of C$24.59 and a twelve month high of C$33.80. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of 0.83.

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

Insider Transactions at Paramount Resources

In related news, Senior Officer Michael S. Han sold 30,040 shares of the firm’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. In related news, Senior Officer Michael S. Han sold 30,040 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of C$28.00, for a total value of C$841,120.00. Also, Director Dirk Jungé sold 4,027 shares of the firm’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 transaction of C$115,028.03. Insiders sold 69,655 shares of company stock worth $2,021,257 in the last three months. Corporate 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.