Paramount Resources (TSE:POU) PT Raised to C$36.00

Paramount Resources (TSE:POU) had its target price increased by Royal Bank of Canada from C$34.00 to C$36.00 in a research note published on Friday, BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other brokerages have also recently commented on POU. BMO Capital Markets raised their target price on Paramount Resources from C$37.00 to C$38.50 and gave the stock an outperform rating in a research report on Friday. Raymond James cut their price target on shares of 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. National Bankshares increased their price target on Paramount Resources from C$37.50 to C$40.00 and gave the company an outperform rating in a report on Friday, April 19th. Scotiabank lowered their price objective on shares of Paramount Resources from C$30.00 to C$29.00 and set an outperform rating on the stock in a research note on Thursday, March 7th. Finally, ATB Capital cut their target price on Paramount Resources from C$37.00 to C$36.00 and set an outperform rating for the company in a research note on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of C$35.80.

Paramount Resources Trading Up 1.3 %

TSE:POU opened at C$32.46 on Friday. The business has a 50 day simple moving average of C$28.87 and a 200 day simple moving average of C$27.90. The firm has a market capitalization of C$4.69 billion, a P/E ratio of 10.24, a P/E/G ratio of 0.14 and a beta of 3.23. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.71 and a quick ratio of 0.68. Paramount Resources has a 12-month low of C$24.59 and a 12-month high of C$33.80.

Paramount Resources (TSE:POU) last released its quarterly earnings results on Wednesday, March 6th. The company reported C$0.75 EPS for the quarter, missing analysts’ consensus estimates of C$0.95 by C($0.20). The company had revenue of C$470.50 million for the quarter, compared to the consensus estimate of C$436.00 million. Paramount Resources had a return on equity of 13.67% and a net margin of 26.13%. Equities research analysts predict that Paramount Resources will post 2.3708207 EPS for the current year.

Paramount Resources Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 31st will be given a dividend of $0.15 per share. This is a positive change from Paramount Resources’s previous monthly dividend of $0.13. This represents a $1.80 annualized dividend and a dividend yield of 5.55%. The ex-dividend date of this dividend is Tuesday, May 14th. Paramount Resources’s payout ratio is presently 47.32%.

Insider Activity at Paramount Resources

In other Paramount Resources news, Senior Officer Bernard K. Lee sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of C$30.50, for a total value of C$610,000.00. In other news, Senior Officer Michael S. Han sold 30,040 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of C$28.00, for a total transaction of C$841,120.00. Also, Senior Officer Bernard K. Lee sold 20,000 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of C$30.50, for a total value of C$610,000.00. Insiders have sold 77,655 shares of company stock worth $2,278,857 in the last ninety days. Company insiders own 45.75% of the company’s stock.

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.