National Bankshares Boosts Paramount Resources (TSE:POU) Price Target to C$40.00

Paramount Resources (TSE:POU) had its target price boosted by National Bankshares from C$37.50 to C$40.00 in a research note published on Friday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently issued reports on the stock. BMO Capital Markets set a C$37.00 price target on shares of Paramount Resources and gave the company an outperform rating in a research report on Tuesday, April 9th. Cormark downgraded shares of Paramount Resources from a buy rating to a market perform rating and decreased their target price for the company from C$40.00 to C$37.50 in a research note on Thursday, March 7th. Raymond James decreased their target price on shares of Paramount Resources from C$40.00 to C$36.00 and set an outperform rating for the company in a research note on Friday, January 19th. Jefferies Financial Group decreased their target price on shares of Paramount Resources from C$33.00 to C$31.00 in a research note on Thursday, March 7th. Finally, Stifel Nicolaus decreased their target price on shares of Paramount Resources from C$33.50 to C$33.00 and set a buy rating for the company in a research note on Thursday, March 7th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of C$34.15.

Paramount Resources Price Performance

POU stock opened at C$29.15 on Friday. Paramount Resources has a 12-month low of C$24.59 and a 12-month high of C$33.80. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83. The firm’s 50-day moving average price is C$28.06 and its two-hundred day moving average price is C$27.84. The stock has a market capitalization of C$4.21 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 0.14 and a beta of 3.31.

Paramount Resources (TSE:POU) last announced its quarterly earnings results on Wednesday, March 6th. The company reported C$0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.95 by C($0.20). Paramount Resources had a net margin of 26.13% and a return on equity of 13.67%. The company had revenue of C$470.50 million for the quarter, compared to analysts’ expectations of C$436.00 million. As a group, equities analysts predict that Paramount Resources will post 2.5252525 earnings per share for the current year.

Paramount Resources Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be given a dividend of $0.125 per share. This represents a $1.50 annualized dividend and a dividend yield of 5.15%. The ex-dividend date of this dividend is Friday, April 12th. Paramount Resources’s dividend payout ratio (DPR) is currently 47.32%.

Insider Activity at Paramount Resources

In related news, Senior Officer Bernard K. Lee sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of C$30.50, for a total transaction of C$610,000.00. In related news, Senior Officer Bernard K. Lee sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of C$30.50, for a total transaction of C$610,000.00. Also, Director Dirk Jungé sold 4,027 shares of Paramount Resources stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of C$28.56, for a total transaction of C$115,028.03. Insiders sold 69,655 shares of company stock valued at $2,021,257 over the last 90 days. Corporate insiders own 45.91% of the company’s stock.

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.