Analysts Set Paramount Resources Ltd. (TSE:POU) PT at C$34.95

Shares of Paramount Resources Ltd. (TSE:POU) have been given an average recommendation of “Moderate Buy” by the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is C$34.95.

POU has been the subject of a number of research analyst reports. BMO Capital Markets set a C$37.00 price target on shares of Paramount Resources and gave the company an “outperform” rating in a report on Tuesday, April 9th. Jefferies Financial Group cut their price target on shares of Paramount Resources from C$33.00 to C$31.00 in a report on Thursday, March 7th. ATB Capital cut their price target on shares of Paramount Resources from C$37.00 to C$36.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. CIBC upped their price objective on shares of Paramount Resources from C$30.00 to C$35.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Finally, Scotiabank reduced their price objective on shares of Paramount Resources from C$30.00 to C$29.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th.

Paramount Resources Price Performance

Shares of POU opened at C$31.98 on Friday. The stock’s fifty day moving average is C$28.74 and its 200-day moving average is C$27.94. The firm has a market capitalization of C$4.62 billion, a price-to-earnings ratio of 10.09, a price-to-earnings-growth ratio of 0.14 and a beta of 3.23. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.71. Paramount Resources has a one year low of C$24.59 and a one year high of C$33.80.

Paramount Resources (TSE:POU) last announced its earnings results on Wednesday, March 6th. The company reported C$0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.95 by C($0.20). The company had revenue of C$470.50 million during the quarter, compared to the consensus estimate of C$436.00 million. Paramount Resources had a net margin of 26.13% and a return on equity of 13.67%. Equities analysts anticipate that Paramount Resources will post 2.3708207 EPS for the current year.

Paramount Resources Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 31st will be given a $0.15 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.63%. This is a boost from Paramount Resources’s previous monthly dividend of $0.13. The ex-dividend date is Tuesday, May 14th. Paramount Resources’s dividend payout ratio is currently 47.32%.

Insider Activity

In related news, Senior Officer Michael S. Han sold 30,040 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of C$28.00, for a total value of C$841,120.00. In related news, Senior Officer Michael S. Han sold 30,040 shares of Paramount Resources stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of C$28.00, for a total value of C$841,120.00. Also, Director Dirk Jungé sold 4,027 shares of Paramount Resources stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of C$28.56, for a total value of C$115,028.03. Over the last three months, insiders sold 69,655 shares of company stock valued at $2,021,257. 45.75% of the stock is owned by company insiders.

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.