Brokerages Set Paramount Resources Ltd. (TSE:POU) Price Target at C$31.22

Paramount Resources Ltd. (TSE:POU) has received a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is C$31.22.

POU has been the topic of a number of analyst reports. National Bank Financial lifted their price objective on shares of Paramount Resources from C$32.00 to C$32.50 and gave the company a “sector perform” rating in a research note on Wednesday, March 4th. Jefferies Financial Group decreased their target price on shares of Paramount Resources from C$29.00 to C$28.00 in a research note on Tuesday, January 20th. Roth Mkm set a C$33.00 price target on shares of Paramount Resources and gave the company a “buy” rating in a report on Wednesday, March 4th. Raymond James Financial boosted their price objective on shares of Paramount Resources from C$29.00 to C$31.00 and gave the stock an “outperform” rating in a report on Wednesday, March 4th. Finally, BMO Capital Markets upped their price objective on shares of Paramount Resources from C$24.00 to C$32.00 and gave the company an “outperform” rating in a research report on Wednesday, March 4th.

Paramount Resources Price Performance

POU stock opened at C$29.71 on Friday. The firm has a market cap of C$4.29 billion, a P/E ratio of 3.38, a price-to-earnings-growth ratio of 0.14 and a beta of 0.14. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.68 and a current ratio of 3.77. Paramount Resources has a 1 year low of C$14.50 and a 1 year high of C$30.67. The stock has a 50-day simple moving average of C$27.27 and a 200-day simple moving average of C$24.72.

Paramount Resources (TSE:POU) last released its quarterly earnings results on Tuesday, March 3rd. The company reported C($0.03) EPS for the quarter. The company had revenue of C$262.50 million for the quarter. Paramount Resources had a return on equity of 48.07% and a net margin of 129.11%. On average, equities analysts predict that Paramount Resources will post 1.4075758 earnings per share for the current fiscal year.

Paramount Resources Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were paid a $0.05 dividend. The ex-dividend date was Monday, March 16th. This represents a c) annualized dividend and a dividend yield of 2.0%. Paramount Resources’s payout ratio is 6.83%.

Insider Buying and Selling

In other Paramount Resources news, insider John B. Williams sold 6,800 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of C$30.45, for a total transaction of C$207,060.00. Following the completion of the sale, the insider owned 171,285 shares in the company, valued at C$5,215,628.25. This trade represents a 3.82% decrease in their position. Corporate insiders own 45.36% of the company’s stock.

About Paramount Resources

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”.