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

Paramount Resources (TSE:POU) had its target price boosted by research analysts at CIBC from C$38.00 to C$39.50 in a research report issued on Friday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 28.62% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. Scotiabank lifted their price objective on shares of Paramount Resources from C$43.00 to C$44.00 in a research note on Friday. Jefferies Financial Group cut their price objective 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. Cormark upgraded shares of Paramount Resources to a “hold” rating in a report on Monday, September 23rd. Cibc World Mkts raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada increased their price objective on shares of Paramount Resources from C$34.00 to C$37.00 in a research note on Friday. Three 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$37.60.

Paramount Resources Stock Down 1.9 %

Shares of POU stock traded down C$0.60 during trading hours on Friday, reaching C$30.71. 437,768 shares of the company’s stock were exchanged, compared to its average volume of 297,653. The stock has a market cap of C$4.51 billion, a PE ratio of 13.06, a PEG ratio of 0.14 and a beta of 3.04. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83. The stock’s fifty day moving average price is C$26.68 and its two-hundred day moving average price is C$29.22. Paramount Resources has a 1 year low of C$24.51 and a 1 year high of C$33.06.

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.