Paramount Resources (TSE:POU) Issues Quarterly Earnings Results

Paramount Resources (TSE:POU) released its quarterly earnings data on Thursday. The company reported C$0.47 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$317.90 million during the quarter. Paramount Resources had a return on equity of 1.96% and a net margin of 5.90%.

Paramount Resources Price Performance

TSE POU traded down C$0.64 on Friday, hitting C$30.10. The company had a trading volume of 215,700 shares, compared to its average volume of 282,394. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.57 and a quick ratio of 0.68. The company’s fifty day moving average price is C$28.98 and its 200-day moving average price is C$28.47. The company has a market capitalization of C$4.39 billion, a PE ratio of 75.25, a PEG ratio of 0.14 and a beta of -0.25. Paramount Resources has a 12-month low of C$19.37 and a 12-month high of C$33.44.

Paramount Resources Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 31st will be issued a $0.05 dividend. This represents a c) annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, August 17th. Paramount Resources’s payout ratio is presently 150.00%.

Insider Buying and Selling at Paramount Resources

In related news, insider David Blake Reid sold 25,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of C$30.90, for a total transaction of C$772,500.00. Following the completion of the transaction, the insider owned 172,313 shares in the company, valued at C$5,324,471.70. This represents a 12.67% decrease in their position. Also, Director Dirk Jungé sold 8,850 shares of Paramount Resources stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of C$30.97, for a total value of C$274,084.50. Following the completion of the sale, the director owned 57,915 shares in the company, valued at approximately C$1,793,627.55. The trade was a 13.26% decrease in their ownership of the stock. Over the last quarter, 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 company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Scotiabank upgraded Paramount Resources to a “hold” rating in a research note on Friday, June 26th. BMO Capital Markets lifted their price target on Paramount Resources from C$35.00 to C$37.00 and gave the company an “outperform” rating in a research report on Friday. Raymond James Financial boosted their price target on Paramount Resources from C$34.00 to C$36.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Royal Bank Of Canada upped their price objective on Paramount Resources from C$35.00 to C$37.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, National Bank Financial raised their price objective on shares of Paramount Resources from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$34.35.

Key Headlines Impacting Paramount Resources

Here are the key news stories impacting Paramount Resources this week:

• Positive Sentiment: Analysts raised price targets: Scotia increased its target to C$36 from C$34 while maintaining a “sector perform” rating. BMO Capital Markets and ATB Cormark raised their targets to C$37 from C$35 and kept “outperform” ratings. Royal Bank of Canada also lifted its target to C$37 but retained a “sector perform” view. The revised targets imply approximately 19.5% to 22.8% upside from the referenced C$30.13 price. BayStreet analyst ratings
• Positive Sentiment: Monthly dividend announced: Paramount declared a C$0.05-per-share monthly dividend, payable August 31 to shareholders of record August 31. The dividend equates to an annualized payout of approximately C$0.60 per share and a reported 2.0% yield. The ex-dividend date is August 17.
• Neutral Sentiment: Analyst consensus remains favorable: Paramount received an average analyst recommendation of “Moderate Buy,” suggesting broad support but not an overwhelmingly bullish consensus. Paramount Resources analyst recommendation
• Neutral Sentiment: Quarterly results reported: Paramount posted earnings of C$0.47 per share on revenue of C$317.90 million. Net margin was 5.90% and return on equity was 1.96%. The results confirm continued profitability, although the reported figures alone do not indicate whether the company exceeded market expectations. Paramount Resources quarterly results

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”.