Paramount Resources’ (POU) “Outperform” Rating Reaffirmed at Raymond James

Raymond James restated their outperform rating on shares of Paramount Resources (TSE:POU) in a research report sent to investors on Friday morning, BayStreet.CA reports. They currently have a C$8.00 price objective on the stock.

POU has been the subject of several other reports. CSFB reissued an underperform rating and set a C$7.00 price objective on shares of Paramount Resources in a report on Tuesday, July 16th. Laurentian decreased their price objective on shares of Paramount Resources from C$15.00 to C$14.00 in a report on Wednesday, July 24th. CIBC boosted their price objective on shares of Paramount Resources from C$6.50 to C$7.50 in a report on Friday. Finally, Royal Bank of Canada decreased their price objective on shares of Paramount Resources from C$9.00 to C$8.00 in a report on Friday, October 18th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Paramount Resources presently has an average rating of Hold and an average target price of C$8.70.

Paramount Resources stock traded down C$0.10 during trading hours on Friday, hitting C$6.27. The stock had a trading volume of 511,809 shares, compared to its average volume of 374,596. The company has a quick ratio of 0.49, a current ratio of 1.32 and a debt-to-equity ratio of 47.25. The stock’s 50-day moving average price is C$5.78 and its 200-day moving average price is C$6.77. Paramount Resources has a 12-month low of C$4.91 and a 12-month high of C$9.97. The stock has a market capitalization of $777.46 million and a P/E ratio of -2.15.

Paramount Resources (TSE:POU) last released its quarterly earnings data on Thursday, August 8th. The company reported C($0.93) earnings per share for the quarter, missing the consensus estimate of C($0.59) by C($0.34). The firm had revenue of C$218.18 million for the quarter, compared to analysts’ expectations of C$216.00 million. On average, research analysts expect that Paramount Resources will post -0.71 EPS for the current fiscal year.

About Paramount Resources

Paramount Resources Ltd., an independent energy company, explores for, develops, produces, and markets natural gas, crude oil, and natural gas liquids in Canada. Its principal properties are the Montney and Duvernay developments covering approximately 3.0 million net acres located in Alberta and British Columbia.

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Analyst Recommendations for Paramount Resources (TSE:POU)

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