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

Paramount Resources (TSE:POU) was upgraded by investment analysts at Cormark from a “hold” rating to a “moderate buy” rating in a research report issued on Friday,Zacks.com reports.

A number of other brokerages also recently commented on POU. Royal Bank of Canada upped their target price 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 report on Thursday, October 17th. Scotiabank increased their price target on Paramount Resources from C$43.00 to C$44.00 in a research report on Friday. Jefferies Financial Group lowered 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 report on Monday, September 16th. Finally, CIBC increased their price target on Paramount Resources from C$38.00 to C$39.50 in a research report on Friday. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$37.60.

Paramount Resources Stock Down 1.0 %

Shares of POU opened at C$31.01 on Friday. Paramount Resources has a 52 week low of C$24.51 and a 52 week high of C$33.06. 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 company has a market capitalization of C$4.55 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 0.14 and a beta of 3.04. The stock’s 50-day moving average price is C$26.75 and its 200-day moving average price is C$29.23.

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.