Paramount Resources (TSE:POU) Raised to “Moderate Buy” at Cormark

Paramount Resources (TSE:POU) was upgraded by stock analysts at Cormark from a “hold” rating to a “moderate buy” rating in a report released on Friday,Zacks.com reports.

POU has been the subject of a number of other reports. CIBC upped their price target on shares of Paramount Resources from C$38.00 to C$39.50 in a research note on Friday. Royal Bank of Canada upped their target price on Paramount Resources from C$34.00 to C$37.00 in a research report on Friday. Cibc World Mkts upgraded Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Jefferies Financial Group cut their price objective on Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating for the company in a report on Monday, September 16th. Finally, Scotiabank lifted their target price on Paramount Resources from C$43.00 to C$44.00 in a report on Friday. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$37.60.

Paramount Resources Price Performance

Shares of POU opened at C$31.01 on Friday. Paramount Resources has a one year low of C$24.51 and a one year high of C$33.06. The stock’s fifty day moving average is C$26.82 and its 200-day moving average is C$29.23. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.75. The firm has a market capitalization of C$4.55 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04.

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.