ATB Cormark Capital Markets Issues Positive Forecast for Paramount Resources (TSE:POU) Stock Price

Paramount Resources (TSE:POU) had its target price increased by equities researchers at ATB Cormark Capital Markets from C$35.00 to C$37.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price objective indicates a potential upside of 22.72% from the stock’s previous close.

A number of other brokerages also recently issued reports on POU. Raymond James Financial boosted their price objective on shares of Paramount Resources from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Scotiabank upgraded Paramount Resources to a “hold” rating in a research report on Friday, June 26th. National Bank Financial upped their price target on Paramount Resources from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 13th. Finally, Royal Bank Of Canada raised their price objective on Paramount Resources from C$32.00 to C$35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$34.35.

Paramount Resources Stock Performance

Shares of TSE:POU traded down C$0.59 during trading on Friday, hitting C$30.15. The company’s stock had a trading volume of 85,346 shares, compared to its average volume of 281,504. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.57 and a quick ratio of 0.68. The firm has a market cap of C$4.38 billion, a price-to-earnings ratio of 75.37, a P/E/G ratio of 0.14 and a beta of -0.25. The company has a 50-day moving average of C$28.98 and a 200-day moving average of C$28.46. Paramount Resources has a 12 month low of C$19.37 and a 12 month high of C$33.44.

Paramount Resources (TSE:POU) last announced its earnings results on Thursday, August 6th. The company reported C$0.47 earnings per share (EPS) for the quarter. Paramount Resources had a net margin of 5.90% and a return on equity of 1.96%. The company had revenue of C$317.90 million during the quarter. On average, sell-side analysts expect that Paramount Resources will post 1.4075758 earnings per share for the current year.

Insiders Place Their Bets

In other Paramount Resources news, Director James Geral Bell sold 2,050 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of C$27.17, for a total transaction of C$55,698.50. Also, insider Tyson Riddell sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of C$31.36, for a total value of C$156,800.00. Following the completion of the transaction, the insider owned 14,458 shares in the company, valued at C$453,402.88. The trade was a 25.70% decrease in their ownership of the stock. In the last three months, insiders have bought 10,148 shares of company stock worth $308,401 and have sold 44,800 shares worth $1,388,875. 45.36% of the stock is currently owned by corporate insiders.

About Paramount Resources

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”.