Paramount Resources (OTCMKTS:PRMRF) Price Target Raised to C$25.00 at Scotiabank

Paramount Resources (OTCMKTS:PRMRF) had its price objective increased by equities research analysts at Scotiabank from C$19.00 to C$25.00 in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage currently has a “sector perform” rating on the stock.

Other research analysts have also issued reports about the stock. CIBC raised their price target on shares of Paramount Resources from C$17.00 to C$20.00 and gave the company a “neutral” rating in a research note on Wednesday, July 14th. Stifel Nicolaus raised their price target on shares of Paramount Resources from C$20.00 to C$22.00 and gave the company a “buy” rating in a research note on Thursday, September 23rd. National Bankshares upgraded shares of Paramount Resources to a “buy” rating and set a $28.00 price objective for the company in a report on Tuesday, September 28th. Finally, National Bank Financial upgraded shares of Paramount Resources from a “sector perform” rating to an “outperform” rating in a report on Tuesday, September 28th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $17.92.

Paramount Resources stock traded down $0.60 during midday trading on Thursday, reaching $15.42. The company had a trading volume of 14,445 shares, compared to its average volume of 11,581. The company has a market capitalization of $2.08 billion, a P/E ratio of 21.42 and a beta of 3.85. Paramount Resources has a 12-month low of $1.65 and a 12-month high of $16.95. The firm’s fifty day simple moving average is $12.56 and its 200-day simple moving average is $11.60. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.46 and a quick ratio of 0.46.

About Paramount Resources

Paramount Resources Ltd. explores and develops both conventional and unconventional petroleum and natural gas resources. It operates through the following regions: Grande Prairie Region, Kaybob Region and Central Alberta and Other Region. The company was founded by Clayton H. Riddell on February 14, 1978 and is headquartered in Calgary, Canada.

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