ATB Cormark Capital Markets Forecasts Strong Price Appreciation for Paramount Resources (TSE:POU) Stock

Key Points

• ATB Cormark raised Paramount Resources’ price target to C$37 from C$35 and maintained an “outperform” rating, implying 22.72% potential upside from the reported C$30.15 share price.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of C$34.35; four analysts rate the stock Buy and four rate it Hold.
• Paramount reported quarterly EPS of C$0.47 on revenue of C$317.90 million, while the stock fell 1.9% during Friday trading. Insiders have sold more shares than they bought over the past 90 days.

Paramount Resources (TSE:POU - Get Free Report) had its price target raised by investment analysts 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' target price indicates a potential upside of 22.72% from the stock's current price.

Other analysts have also issued reports about the stock. National Bank Financial raised their price objective on shares of Paramount Resources from C$36.00 to C$38.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 13th. Scotiabank upgraded shares of Paramount Resources to a "hold" rating in a research note on Friday, June 26th. Royal Bank Of Canada increased their price target on shares of Paramount Resources from C$32.00 to C$35.00 and gave the company a "sector perform" rating in a report on Wednesday, May 13th. Finally, Raymond James Financial raised their price target 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. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$34.35.

Paramount Resources Stock Down 1.9%

TSE:POU traded down C$0.59 during trading hours on Friday, reaching C$30.15. 85,346 shares of the company traded hands, compared to its average volume of 281,504. The company has a current ratio of 2.57, a quick ratio of 0.68 and a debt-to-equity ratio of 0.89. The business's 50-day moving average price is C$28.98 and its two-hundred day moving average price is C$28.46. Paramount Resources has a 1 year low of C$19.37 and a 1 year high of C$33.44. The stock has a market capitalization of C$4.38 billion, a P/E ratio of 75.37, a P/E/G ratio of 0.14 and a beta of -0.25.

Paramount Resources (TSE:POU - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported C$0.47 EPS for the quarter. The firm had revenue of C$317.90 million for the quarter. Paramount Resources had a return on equity of 1.96% and a net margin of 5.90%. Analysts predict that Paramount Resources will post 1.4075758 earnings per share for the current year.

Insider Activity

In related news, insider David Blake Reid sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of C$30.90, for a total transaction of C$772,500.00. Following the transaction, the insider owned 172,313 shares in the company, valued at C$5,324,471.70. This represents a 12.67% decrease in their ownership of the stock. Also, insider Tyson Riddell sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of C$31.36, for a total transaction of C$156,800.00. Following the completion of the sale, the insider owned 14,458 shares in the company, valued at C$453,402.88. This represents a 25.70% decrease in their position. Over the last 90 days, 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 owned by 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".

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