Royal Bank of Canada Boosts Paramount Resources (TSE:POU) Price Target to C$37.00

Paramount Resources (TSE:POU) had its price target upped by equities researchers at Royal Bank of Canada from C$34.00 to C$37.00 in a report released on Friday,BayStreet.CA reports. Royal Bank of Canada’s price target would indicate a potential upside of 19.32% from the stock’s current price.

A number of other brokerages also recently issued reports on POU. Scotiabank increased their price target on shares of Paramount Resources from C$43.00 to C$44.00 in a report on Friday. Cibc World Mkts raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Cormark upgraded Paramount Resources to a “hold” rating in a research report on Monday, September 23rd. Finally, Jefferies Financial Group reduced their price target on Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating for the company in a report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently 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 stock opened at C$31.01 on Friday. Paramount Resources has a twelve month low of C$24.51 and a twelve month high of C$33.06. The stock has a market cap of C$4.55 billion, a P/E ratio of 13.14, a P/E/G ratio of 0.14 and a beta of 3.04. The stock has a 50 day moving average of C$26.82 and a 200 day moving average of C$29.23. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83.

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.