Stifel Nicolaus Increases Paramount Resources (TSE:POU) Price Target to C$36.00

Paramount Resources (TSE:POU) had its price objective boosted by investment analysts at Stifel Nicolaus from C$33.00 to C$36.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 16.88% from the company’s current price.

POU has been the subject of several other research reports. Scotiabank cut their price objective on Paramount Resources from C$30.00 to C$29.00 and set an “outperform” rating for the company in a research report on Thursday, March 7th. CIBC increased their price objective on Paramount Resources from C$30.00 to C$35.00 and gave the stock a “neutral” rating in a research report on Monday. Raymond James cut their price objective on Paramount Resources from C$40.00 to C$36.00 and set an “outperform” rating for the company in a research report on Friday, January 19th. ATB Capital cut their price objective on Paramount Resources from C$37.00 to C$36.00 and set an “outperform” rating for the company in a research report on Thursday, March 7th. Finally, Royal Bank of Canada cut their price objective on Paramount Resources from C$33.00 to C$32.00 and set a “sector perform” rating for the company in a research report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$34.95.

Paramount Resources Price Performance

Paramount Resources stock opened at C$30.80 on Tuesday. Paramount Resources has a 12 month low of C$24.59 and a 12 month high of C$33.80. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.71 and a quick ratio of 0.68. The business has a 50 day simple moving average of C$28.29 and a 200-day simple moving average of C$27.86. The stock has a market capitalization of C$4.45 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 0.14 and a beta of 3.31.

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

Insider Buying and Selling

In related news, Senior Officer Michael S. Han sold 30,040 shares of Paramount Resources stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of C$28.00, for a total transaction of C$841,120.00. In related news, Senior Officer Bernard K. Lee sold 20,000 shares of Paramount Resources stock in a transaction dated Friday, April 12th. The stock was sold at an average price of C$30.50, for a total transaction of C$610,000.00. Also, Senior Officer Michael S. Han sold 30,040 shares of Paramount Resources stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of C$28.00, for a total value of C$841,120.00. In the last quarter, insiders sold 69,655 shares of company stock worth $2,021,257. 45.91% of the stock is owned by corporate insiders.

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.