Paramount Resources Ltd. (TSE:POU) Announces $0.15 Monthly Dividend

Paramount Resources Ltd. (TSE:POU) declared a monthly dividend on Thursday, August 1st, Zacks reports. Shareholders of record on Thursday, August 15th will be given a dividend of 0.15 per share on Friday, August 30th. This represents a $1.80 annualized dividend and a yield of 6.74%. The ex-dividend date is Thursday, August 15th.

Paramount Resources Price Performance

Shares of TSE POU traded down C$1.77 during mid-day trading on Friday, reaching C$26.69. The company had a trading volume of 122,496 shares, compared to its average volume of 235,265. The company has a 50-day moving average price of C$31.06 and a two-hundred day moving average price of C$29.43. The stock has a market cap of C$3.90 billion, a PE ratio of 11.88, a P/E/G ratio of 0.14 and a beta of 3.19. 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.

Paramount Resources (TSE:POU) last posted its quarterly earnings data on Thursday, May 2nd. The company reported C$0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.59 by C($0.13). The company had revenue of C$452.30 million for the quarter, compared to analyst estimates of C$415.00 million. Paramount Resources had a return on equity of 9.92% and a net margin of 19.97%. On average, equities analysts anticipate that Paramount Resources will post 1.8292264 earnings per share for the current year.

Insiders Place Their Bets

In related news, Senior Officer Rodrigo Sousa sold 10,000 shares of Paramount Resources stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of C$32.70, for a total transaction of C$327,014.00. In other news, Senior Officer Mark Gordon Franko sold 8,000 shares of the stock in a transaction 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. Also, Senior Officer Rodrigo Sousa sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of C$32.70, for a total transaction of C$327,014.00. Insiders have sold 85,661 shares of company stock worth $2,750,991 in the last ninety days. Insiders own 45.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on POU shares. Scotiabank increased their target price on shares of Paramount Resources from C$42.00 to C$43.00 in a research report on Friday, July 12th. BMO Capital Markets increased their price objective on Paramount Resources from C$38.50 to C$40.00 in a report on Wednesday, July 3rd. Stifel Nicolaus boosted their target price on Paramount Resources from C$36.00 to C$37.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Royal Bank of Canada upped their target price on Paramount Resources from C$34.00 to C$36.00 and gave the stock a “sector perform” rating in a research report on Friday, May 3rd. Finally, CIBC boosted their price target on Paramount Resources from C$37.00 to C$38.00 in a research note on Monday, July 15th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$37.45.

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.