Brokerages Set Paramount Resources Ltd. (TSE:POU) Target Price at C$32.94

Paramount Resources Ltd. (TSE:POU) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$32.94.

POU has been the subject of a number of analyst reports. Royal Bank Of Canada lifted their price target on shares of Paramount Resources from C$32.00 to C$35.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 13th. National Bank Financial increased their price objective on shares of Paramount Resources from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 13th. Raymond James Financial raised their target price on shares of Paramount Resources from C$34.00 to C$36.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Finally, Scotiabank raised shares of Paramount Resources to a “hold” rating in a report on Friday, June 26th.

Paramount Resources Stock Performance

POU opened at C$28.54 on Tuesday. The business has a fifty day simple moving average of C$29.70 and a 200 day simple moving average of C$27.75. The company has a market capitalization of C$4.17 billion, a PE ratio of 71.35, a price-to-earnings-growth ratio of 0.14 and a beta of -0.24. Paramount Resources has a 1 year low of C$19.37 and a 1 year high of C$33.44. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.57 and a quick ratio of 0.68.

Paramount Resources (TSE:POU) last posted its quarterly earnings data on Tuesday, May 12th. The company reported C$0.36 earnings per share for the quarter. The firm had revenue of C$276.20 million for the quarter. Paramount Resources had a return on equity of 1.96% and a net margin of 5.90%. Research analysts expect that Paramount Resources will post 1.4075758 EPS for the current year.

Paramount Resources Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 31st will be paid a $0.05 dividend. The ex-dividend date is Friday, July 17th. This represents a c) annualized dividend and a dividend yield of 2.1%. Paramount Resources’s dividend payout ratio (DPR) is presently 150.00%.

Insider Buying and Selling at Paramount Resources

In other Paramount Resources news, Director Dirk Jungé sold 8,850 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of C$30.97, for a total value of C$274,084.50. Following the sale, the director owned 57,915 shares in the company, valued at C$1,793,627.55. This trade represents a 13.26% decrease in their ownership of the stock. Also, insider Tyson Riddell sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of C$31.36, for a total value of C$156,800.00. Following the sale, the insider directly owned 14,458 shares in the company, valued at approximately C$453,402.88. This trade represents a 25.70% decrease in their position. Over the last quarter, insiders purchased 10,148 shares of company stock worth $308,401 and sold 44,800 shares worth $1,388,875. Corporate insiders own 45.36% of the company’s stock.

Paramount Resources Company Profile

Paramount is an independent, publicly traded Canadian energy company that explores for and develops both conventional and unconventional petroleum and natural gas, including longer-term strategic exploration and pre-development plays. The Company’s principal properties are located in Alberta and British Columbia. Paramount’s class A common shares are listed on the Toronto Stock Exchange under the symbol “POU”.