Paramount Resources (TSE:POU) Price Target Raised to C$39.50

Paramount Resources (TSE:POU - Get Free Report) had its target price lifted by analysts at CIBC from C$38.00 to C$39.50 in a research report issued on Friday,BayStreet.CA reports. CIBC's price target indicates a potential upside of 27.38% from the stock's current price.

A number of other equities research analysts have also commented on POU. Cormark upgraded Paramount Resources to a "hold" rating in a research report on Monday, September 23rd. Royal Bank of Canada lifted their price objective on Paramount Resources from C$34.00 to C$37.00 in a research note on Friday. Jefferies Financial Group dropped their target price on Paramount Resources from C$36.00 to C$29.00 and set a "buy" rating on the stock in a report on Monday, September 16th. Cibc World Mkts raised Paramount Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 17th. Finally, Scotiabank lifted their target price on shares of Paramount Resources from C$43.00 to C$44.00 in a report on Friday. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$37.60.

Paramount Resources Stock Performance

Shares of POU traded down C$0.30 during trading hours on Friday, reaching C$31.01. 815,882 shares of the company traded hands, compared to its average volume of 299,518. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 0.83. The business has a fifty day moving average price of C$26.82 and a 200-day moving average price of C$29.23. Paramount Resources has a 12-month low of C$24.51 and a 12-month high of C$33.06. The stock has a market capitalization of C$4.55 billion, a P/E ratio of 13.14, a P/E/G ratio of 0.14 and a beta of 3.04.

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.