Brokerages Set Paramount Resources Ltd. (TSE:POU) Price Target at C$35.80

Shares of Paramount Resources Ltd. (TSE:POU) have earned a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is C$35.80.

Several equities research analysts have commented on POU shares. Royal Bank of Canada upped their price objective on Paramount Resources from C$34.00 to C$36.00 and gave the stock a “sector perform” rating in a research report on Friday, May 3rd. CIBC raised their target price on Paramount Resources from C$35.00 to C$37.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Jefferies Financial Group lowered their price target on Paramount Resources from C$33.00 to C$31.00 in a report on Thursday, March 7th. ATB Capital lowered their target price on Paramount Resources from C$37.00 to C$36.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Finally, Stifel Nicolaus lifted their price objective on Paramount Resources from C$36.00 to C$37.00 and gave the company a “buy” rating in a research note on Friday, May 3rd.

Paramount Resources Price Performance

Shares of TSE POU opened at C$30.87 on Friday. The business’s 50 day moving average price is C$31.41 and its 200 day moving average price is C$28.45. The firm has a market cap of C$4.51 billion, a P/E ratio of 13.42, a P/E/G ratio of 0.14 and a beta of 3.19. Paramount Resources has a 52 week low of C$24.59 and a 52 week high of C$33.80. The company has a quick ratio of 0.68, a current ratio of 0.67 and a debt-to-equity ratio of 0.84.

Paramount Resources (TSE:POU) last issued its earnings results on Thursday, May 2nd. The company reported C$0.46 EPS for the quarter, missing analysts’ consensus estimates of C$0.59 by C($0.13). The firm had revenue of C$452.30 million during the quarter, compared to analysts’ expectations of C$415.00 million. Paramount Resources had a net margin of 19.97% and a return on equity of 9.92%. On average, sell-side analysts expect that Paramount Resources will post 1.8292264 earnings per share for the current year.

Paramount Resources Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $1.80 annualized dividend and a dividend yield of 5.83%. Paramount Resources’s dividend payout ratio (DPR) is currently 78.26%.

Insider Buying and Selling at Paramount Resources

In related news, Director Dirk Jungé sold 4,027 shares of Paramount Resources stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of C$28.56, for a total value of C$115,028.03. In other Paramount Resources news, Senior Officer John B. Williams sold 2,532 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of C$31.83, for a total transaction of C$80,593.56. Also, Director Dirk Jungé sold 4,027 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of C$28.56, for a total value of C$115,028.03. In the last ninety days, insiders have sold 107,425 shares of company stock worth $3,381,813. 45.57% of the stock is currently owned by insiders.

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.