Paramount Resources Ltd. (TSE:POU) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Paramount Resources Ltd. (TSE:POU) have earned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is C$32.94.

A number of equities analysts have weighed in on POU shares. Royal Bank Of Canada lifted their price objective on Paramount Resources from C$32.00 to C$35.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 13th. Scotiabank raised Paramount Resources to a “hold” rating in a report on Friday, June 26th. Raymond James Financial lifted their price target on Paramount Resources from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Finally, National Bank Financial boosted their price target on Paramount Resources from C$36.00 to C$38.00 and gave the company a “sector perform” rating in a report on Wednesday, May 13th.

Paramount Resources Stock Up 1.4%

TSE:POU opened at C$29.59 on Friday. The firm has a market capitalization of C$4.32 billion, a P/E ratio of 73.97, a PEG ratio of 0.14 and a beta of -0.24. Paramount Resources has a 1-year low of C$19.37 and a 1-year high of C$33.44. The company’s fifty day moving average price is C$29.13 and its 200-day moving average price is C$28.26. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.57 and a quick ratio of 0.68.

Paramount Resources (TSE:POU) last issued its earnings results on Tuesday, May 12th. The company reported C$0.36 earnings per share (EPS) for the quarter. The firm had revenue of C$276.20 million during the quarter. Paramount Resources had a net margin of 5.90% and a return on equity of 1.96%. As a group, equities research analysts anticipate that Paramount Resources will post 1.4075758 EPS for the current year.

Paramount Resources Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 31st were paid a $0.05 dividend. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, July 17th. Paramount Resources’s payout ratio is currently 150.00%.

Insider Activity

In related news, insider Joerg Wittenberg sold 3,900 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of C$33.28, for a total transaction of C$129,792.00. Following the sale, the insider directly owned 54,321 shares of the company’s stock, valued at approximately C$1,807,802.88. This represents a 6.70% decrease in their ownership of the stock. Also, insider Tyson Riddell sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of C$31.36, for a total transaction of C$156,800.00. Following the sale, the insider owned 14,458 shares in the company, valued at approximately C$453,402.88. This represents a 25.70% decrease in their position. In the last three months, insiders bought 10,148 shares of company stock valued at $308,401 and sold 44,800 shares valued at $1,388,875. 45.36% of the stock is currently owned by corporate insiders.

Paramount Resources Company Profile

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”.