Paramount Resources Ltd. (TSE:POU) Receives C$35.95 Consensus Target Price from Brokerages

Paramount Resources Ltd. (TSE:POU) has earned a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is C$37.45.

A number of analysts recently weighed in on the stock. Royal Bank of Canada increased their price target on shares of Paramount Resources from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a research report on Friday, May 3rd. National Bankshares increased their price target on shares of Paramount Resources from C$37.50 to C$40.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. CIBC increased their target price on Paramount Resources from C$37.00 to C$38.00 in a research note on Monday. Stifel Nicolaus increased their target price on Paramount Resources from C$36.00 to C$37.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Finally, Scotiabank increased their target price on Paramount Resources from C$42.00 to C$43.00 in a research note on Friday, July 12th.

Paramount Resources Stock Performance

Paramount Resources stock opened at C$31.91 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.68 and a debt-to-equity ratio of 0.84. Paramount Resources has a 1 year low of C$24.59 and a 1 year high of C$33.80. The company has a market cap of C$4.66 billion, a PE ratio of 13.87, a PEG ratio of 0.14 and a beta of 3.19. The company’s 50-day moving average is C$31.63 and its two-hundred day moving average is C$29.15.

Paramount Resources (TSE:POU) last announced its quarterly earnings results on Thursday, May 2nd. The company reported C$0.46 earnings per share 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 analyst estimates of C$415.00 million. Paramount Resources had a net margin of 19.97% and a return on equity of 9.92%. Equities analysts anticipate that Paramount Resources will post 1.8292264 earnings per share for the current year.

Paramount Resources Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $1.80 annualized dividend and a dividend yield of 5.64%. Paramount Resources’s dividend payout ratio is currently 78.26%.

Insider Transactions at Paramount Resources

In other news, Senior Officer Mark Gordon Franko sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of C$32.20, for a total transaction of C$257,600.00. In other news, Senior Officer John B. Williams sold 2,532 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of C$31.83, for a total value of C$80,593.56. Also, Senior Officer Mark Gordon Franko sold 8,000 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of C$32.20, for a total value of C$257,600.00. Insiders sold 85,661 shares of company stock valued at $2,750,991 in the last ninety days. 45.57% of the stock is currently owned by corporate 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.