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

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

POU has been the topic of several other research reports. Jefferies Financial Group cut their target price 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. CIBC boosted their target price on Paramount Resources from C$38.00 to C$39.50 in a research report on Friday. Royal Bank of Canada boosted their target price on Paramount Resources from C$34.00 to C$37.00 in a research report on Friday. Cibc World Mkts raised Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Scotiabank boosted their target price on Paramount Resources from C$43.00 to C$44.00 in a research report on Friday. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$37.60.

Paramount Resources Stock Performance

TSE:POU opened at C$31.01 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.75 and a quick ratio of 0.68. Paramount Resources has a 1 year low of C$24.51 and a 1 year high of C$33.06. The stock’s 50 day simple moving average is C$26.75 and its two-hundred day simple moving average is C$29.23. The company has a market cap 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.

About Paramount Resources

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.