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

Paramount Resources (TSE:POU) had its price target 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 brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 14.53% from the company’s previous close.

POU has been the topic of a number of other research reports. National Bank Financial raised their price objective on Paramount Resources from C$36.00 to C$38.00 and gave the company a “sector perform” rating in a research report on Wednesday. Scotiabank raised their price target on Paramount Resources from C$29.00 to C$31.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. ATB Cormark Capital Markets raised their price target on Paramount Resources from C$28.00 to C$33.00 and gave the stock an “outperform” rating in a report on Wednesday, March 4th. Canadian Imperial Bank of Commerce raised their price target on Paramount Resources from C$25.50 to C$30.50 in a report on Wednesday, March 4th. Finally, Roth Mkm set a C$33.00 price target on Paramount Resources and gave the stock a “buy” rating in a report on Wednesday, March 4th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Paramount Resources currently has a consensus rating of “Moderate Buy” and an average price target of C$32.94.

Paramount Resources Stock Down 1.1%

POU stock traded down C$0.33 during trading on Wednesday, reaching C$30.56. 178,904 shares of the company traded hands, compared to its average volume of 299,714. Paramount Resources has a 12 month low of C$18.10 and a 12 month high of C$31.42. The business has a 50 day simple moving average of C$28.97 and a 200 day simple moving average of C$25.97. The company 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.

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

Insiders Place Their Bets

In other Paramount Resources news, insider John B. Williams sold 6,800 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of C$30.45, for a total value of C$207,060.00. Following the completion of the sale, the insider owned 171,285 shares of the company’s stock, valued at approximately C$5,215,628.25. This trade represents a 3.82% decrease in their ownership of the stock. Insiders sold a total of 18,000 shares of company stock valued at $546,140 over the last three months. 45.36% of the stock is currently owned by company insiders.

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”.