Paramount Resources (TSE:POU) PT Raised to C$35.00 at CIBC

Paramount Resources (TSE:POU) had its price target increased by CIBC from C$30.00 to C$35.00 in a research report report published on Monday, BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

A number of other brokerages also recently issued reports on POU. Royal Bank of Canada decreased their price target on shares of Paramount Resources from C$33.00 to C$32.00 and set a sector perform rating for the company in a research note on Thursday, March 7th. Scotiabank decreased their price objective on shares of Paramount Resources from C$30.00 to C$29.00 and set an outperform rating for the company in a research report on Thursday, March 7th. Raymond James dropped their target price on Paramount Resources from C$40.00 to C$36.00 and set an outperform rating on the stock in a report on Friday, January 19th. BMO Capital Markets set a C$37.00 price target on Paramount Resources and gave the stock an outperform rating in a report on Tuesday, April 9th. Finally, Stifel Nicolaus lowered their price objective on Paramount Resources from C$33.50 to C$33.00 and set a buy rating for the company in a research report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of C$34.95.

Paramount Resources Stock Performance

Shares of POU stock opened at C$31.58 on Monday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.71. The firm has a market cap of C$4.56 billion, a P/E ratio of 9.96, a P/E/G ratio of 0.14 and a beta of 3.31. The firm’s 50 day moving average price is C$28.38 and its 200-day moving average price is C$27.89. Paramount Resources has a one year low of C$24.59 and a one year high of C$33.80.

Paramount Resources (TSE:POU) last issued its quarterly earnings data on Wednesday, March 6th. The company reported C$0.75 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.95 by C($0.20). The firm had revenue of C$470.50 million during the quarter, compared to analyst estimates of C$436.00 million. Paramount Resources had a net margin of 26.13% and a return on equity of 13.67%. As a group, equities research analysts predict that Paramount Resources will post 2.5252525 EPS for the current year.

Paramount Resources Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be issued a $0.125 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date is Friday, April 12th. Paramount Resources’s payout ratio is currently 47.32%.

Insiders Place Their Bets

In other news, Senior Officer Michael S. Han sold 30,040 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of C$28.00, for a total value of C$841,120.00. In other news, Senior Officer Michael S. Han sold 30,040 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of C$28.00, for a total value of C$841,120.00. Also, Director Dirk Jungé sold 4,027 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of C$28.56, for a total value of C$115,028.03. Insiders sold a total of 69,655 shares of company stock worth $2,021,257 over the last ninety days. 45.91% of the stock is owned by company insiders.

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.