Paramount Resources (TSE:POU) Rating Increased to Strong-Buy at Cibc World Mkts

Paramount Resources (TSE:POU) was upgraded by analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a report released on Thursday, Zacks.com reports.

Several other brokerages also recently weighed in on POU. Scotiabank lifted their target price on shares of Paramount Resources from C$42.00 to C$43.00 in a report on Friday, July 12th. Cormark raised Paramount Resources to a “hold” rating in a report on Monday, September 23rd. BMO Capital Markets increased their target price on Paramount Resources from C$38.50 to C$40.00 in a research note on Wednesday, July 3rd. CIBC lifted their price target on Paramount Resources from C$37.00 to C$38.00 in a research note on Monday, July 15th. Finally, Jefferies Financial Group reduced their target price 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. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$37.25.

Paramount Resources Trading Up 0.1 %

TSE POU opened at C$26.65 on Thursday. The firm’s fifty day moving average is C$26.98 and its two-hundred day moving average is C$29.44. Paramount Resources has a one year low of C$24.51 and a one year high of C$33.80. 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 cap of C$3.91 billion, a PE ratio of 11.29, a P/E/G ratio of 0.14 and a beta of 3.04.

Paramount Resources (TSE:POU) last announced its earnings results on Thursday, August 1st. The company reported C$0.57 earnings per share for the quarter. Paramount Resources had a return on equity of 10.03% and a net margin of 19.66%. The company had revenue of C$443.60 million for the quarter, compared to the consensus estimate of C$468.00 million. Analysts expect that Paramount Resources will post 1.4075758 earnings per share for the current year.

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.