Paramount Resources (TSE:POU) Lifted to “Hold” at Cormark

Paramount Resources (TSE:POU) was upgraded by equities research analysts at Cormark to a “hold” rating in a research note issued to investors on Monday, Zacks.com reports.

Other analysts have also recently issued reports about the stock. Scotiabank lifted their target price on shares of Paramount Resources from C$42.00 to C$43.00 in a research note on Friday, July 12th. Jefferies Financial Group lowered their target price on shares of Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating for the company in a research note on Monday, September 16th. CIBC lifted their target price on shares of Paramount Resources from C$37.00 to C$38.00 in a research note on Monday, July 15th. Finally, BMO Capital Markets lifted their target price on shares of Paramount Resources from C$38.50 to C$40.00 in a research note on Wednesday, July 3rd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$37.25.

Paramount Resources Stock Up 0.5 %

TSE:POU opened at C$25.87 on Monday. Paramount Resources has a fifty-two week low of C$24.51 and a fifty-two week high of C$33.80. The stock has a market capitalization of C$3.80 billion, a P/E ratio of 11.20, a P/E/G ratio of 0.14 and a beta of 3.06. 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 company’s 50-day simple moving average is C$27.86 and its 200-day simple moving average is C$29.42.

Paramount Resources (TSE:POU) last released its quarterly earnings results on Thursday, August 1st. The company reported C$0.57 earnings per share for the quarter. Paramount Resources had a net margin of 19.66% and a return on equity of 10.03%. The business had revenue of C$443.60 million for the quarter, compared to analysts’ expectations of C$468.00 million.

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.