Paramount Resources Ltd. (TSE:POU) Given Average Recommendation of “Moderate Buy” by Brokerages

Paramount Resources Ltd. (TSE:POU) has been assigned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is C$32.94.

A number of brokerages have recently weighed in on POU. Royal Bank Of Canada lifted their price target on shares of Paramount Resources from C$32.00 to C$35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 13th. 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 note on Wednesday, May 13th. National Bank Financial upped their price target on Paramount Resources from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 13th. Finally, Scotiabank raised shares of Paramount Resources to a “hold” rating in a research report on Friday, June 26th.

Insider Buying and Selling

In related news, insider David Blake Reid sold 25,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of C$30.90, for a total transaction of C$772,500.00. Following the sale, the insider owned 172,313 shares of the company’s stock, valued at C$5,324,471.70. This trade represents a 12.67% decrease in their position. Also, Director Dirk Jungé sold 8,850 shares of the business’s stock in a transaction on 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 sale, the director owned 57,915 shares in the company, valued at C$1,793,627.55. This represents a 13.26% decrease in their position. In the last ninety days, insiders purchased 10,148 shares of company stock worth $308,401 and sold 44,800 shares worth $1,388,875. 45.36% of the stock is currently owned by insiders.

Paramount Resources Trading Up 3.0%

Paramount Resources stock traded up C$0.82 during mid-day trading on Tuesday, hitting C$28.46. The stock had a trading volume of 47,001 shares, compared to its average volume of 287,586. The stock has a 50-day simple moving average of C$29.82 and a two-hundred day simple moving average of C$27.58. The stock has a market capitalization of C$4.14 billion, a PE ratio of 71.15, a P/E/G ratio of 0.14 and a beta of -0.24. Paramount Resources has a 12 month low of C$19.37 and a 12 month high of C$33.44. The company has a current ratio of 2.57, a quick ratio of 0.68 and a debt-to-equity ratio of 0.89.

Paramount Resources (TSE:POU) last released its earnings results on Tuesday, May 12th. The company reported C$0.36 earnings per share (EPS) for the quarter. Paramount Resources had a net margin of 5.90% and a return on equity of 1.96%. The company had revenue of C$276.20 million for the quarter. As a group, sell-side analysts forecast 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 will be paid on Friday, July 31st. Shareholders of record on Friday, July 31st will be issued a $0.05 dividend. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, July 17th. Paramount Resources’s dividend payout ratio (DPR) is currently 150.00%.

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”.