Paramount Resources (TSE:POU) Rating Increased to Moderate Buy at Cormark

Paramount Resources (TSE:POU - Get Free Report) was upgraded by stock analysts at Cormark from a "hold" rating to a "moderate buy" rating in a research note issued to investors on Friday,Zacks.com reports.

POU has been the topic of several other research reports. Jefferies Financial Group dropped their price target on Paramount Resources from C$36.00 to C$29.00 and set a "buy" rating on the stock in a research note on Monday, September 16th. Royal Bank of Canada boosted their price target on Paramount Resources from C$34.00 to C$37.00 in a research note on Friday. Cibc World Mkts upgraded Paramount Resources from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 17th. CIBC boosted their price target on Paramount Resources from C$38.00 to C$39.50 in a research note on Friday. Finally, Scotiabank boosted their price target on Paramount Resources from C$43.00 to C$44.00 in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Paramount Resources has a consensus rating of "Moderate Buy" and an average target price of C$37.60.

Paramount Resources Stock Down 1.0 %

POU stock traded down C$0.30 on Friday, hitting C$31.01. 815,882 shares of the company's stock were exchanged, compared to its average volume of 299,518. Paramount Resources has a 12-month low of C$24.51 and a 12-month high of C$33.06. The firm has a 50 day moving average price of C$26.82 and a two-hundred day moving average price of C$29.23. 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 stock has a market cap of C$4.55 billion, a P/E ratio of 13.14, a price-to-earnings-growth 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.