Royal Bank of Canada Boosts Paramount Resources (TSE:POU) Price Target to C$36.00

Paramount Resources (TSE:POU) had its price target lifted by Royal Bank of Canada from C$34.00 to C$36.00 in a research note published on Friday, BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

Other equities analysts also recently issued reports about the company. National Bankshares lifted their target price on Paramount Resources from C$37.50 to C$40.00 and gave the company an outperform rating in a research report on Friday, April 19th. Jefferies Financial Group cut their target price on shares of Paramount Resources from C$33.00 to C$31.00 in a research note on Thursday, March 7th. Stifel Nicolaus lifted their price objective on Paramount Resources from C$36.00 to C$37.00 and gave the stock a buy rating in a research note on Friday. Scotiabank reduced their target price on shares of Paramount Resources from C$30.00 to C$29.00 and set an outperform rating on the stock in a report on Thursday, March 7th. Finally, Cormark downgraded Paramount Resources from a buy rating to a market perform rating and cut their target price for the company from C$40.00 to C$37.50 in a research report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of C$35.80.

Paramount Resources Stock Up 1.3 %

POU stock opened at C$32.46 on Friday. Paramount Resources has a 1-year low of C$24.59 and a 1-year high of C$33.80. The business has a fifty day moving average price of C$28.87 and a 200-day moving average price of C$27.90. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.71 and a quick ratio of 0.68. The stock has a market capitalization of C$4.69 billion, a P/E ratio of 10.24, a P/E/G ratio of 0.14 and a beta of 3.23.

Paramount Resources (TSE:POU) last released its quarterly earnings results on Wednesday, March 6th. The company reported C$0.75 earnings per share for the quarter, missing the consensus estimate of C$0.95 by C($0.20). The firm had revenue of C$470.50 million for 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 forecast that Paramount Resources will post 2.3708207 earnings per share for the current fiscal year.

Paramount Resources Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 31st will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, May 14th. This represents a $1.80 dividend on an annualized basis and a yield of 5.55%. This is a boost from Paramount Resources’s previous monthly dividend of $0.13. Paramount Resources’s payout ratio is presently 47.32%.

Insiders Place Their Bets

In other news, Senior Officer Mark Gordon Franko sold 8,000 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of C$32.20, for a total transaction of C$257,600.00. In other news, Senior Officer Michael S. Han sold 30,040 shares of Paramount Resources 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. Also, Senior Officer Mark Gordon Franko sold 8,000 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of C$32.20, for a total value of C$257,600.00. Insiders have sold a total of 77,655 shares of company stock worth $2,278,857 over the last quarter. Company insiders own 45.75% 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.