Paramount Resources Ltd. (TSE:POU) Given Average Recommendation of “Moderate Buy” by Brokerages

Paramount Resources Ltd. (TSE:POU) has earned a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is C$37.25.

Several research firms recently weighed in on POU. CIBC lifted their target price on Paramount Resources from C$37.00 to C$38.00 in a research report on Monday, July 15th. Cormark raised shares of Paramount Resources to a “hold” rating in a report on Monday, September 23rd. BMO Capital Markets upped their price objective on shares of Paramount Resources from C$38.50 to C$40.00 in a research report on Wednesday, July 3rd. Jefferies Financial Group cut their target price on shares of 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. Finally, Scotiabank upped their price target on shares of Paramount Resources from C$42.00 to C$43.00 in a report on Friday, July 12th.

Paramount Resources Stock Performance

TSE POU opened at C$25.80 on Monday. The firm’s 50 day simple moving average is C$27.50 and its 200 day simple moving average is C$29.38. The firm has a market capitalization of C$3.78 billion, a price-to-earnings ratio of 10.93, a P/E/G ratio of 0.14 and a beta of 3.06. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83. Paramount Resources has a 1 year low of C$24.51 and a 1 year high of C$33.80.

Paramount Resources (TSE:POU) last issued its earnings results on Thursday, August 1st. The company reported C$0.57 earnings per share for the quarter. Paramount Resources had a return on equity of 10.03% and a net margin of 19.66%. The firm had revenue of C$443.60 million for the quarter, compared to the consensus estimate of C$468.00 million. As a group, research analysts expect that Paramount Resources will post 1.3030303 earnings per share for the current fiscal year.

Paramount Resources Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 16th were paid a $0.15 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 6.98%. Paramount Resources’s dividend payout ratio is 76.27%.

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.