Paramount Resources (TSE:POU) Announces Quarterly Earnings Results

Paramount Resources (TSE:POU) announced its quarterly earnings results on Tuesday. The company reported C$0.36 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of C$276.20 million for the quarter. Paramount Resources had a return on equity of 48.07% and a net margin of 129.11%.

Paramount Resources Stock Performance

Shares of TSE:POU traded up C$1.39 during midday trading on Tuesday, reaching C$30.63. The company’s stock had a trading volume of 67,187 shares, compared to its average volume of 296,267. The company has a quick ratio of 0.68, a current ratio of 3.77 and a debt-to-equity ratio of 0.94. The stock has a fifty day moving average of C$28.89 and a 200 day moving average of C$25.91. Paramount Resources has a twelve month low of C$17.05 and a twelve month high of C$31.42. The firm has a market capitalization of C$4.44 billion, a PE ratio of 3.49, a P/E/G ratio of 0.14 and a beta of -0.03.

Paramount Resources Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 29th will be issued a $0.05 dividend. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, May 15th. Paramount Resources’s dividend payout ratio is 6.83%.

Insider Buying and Selling

In other Paramount Resources news, insider John B. Williams sold 6,800 shares of the company’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of C$30.45, for a total value of C$207,060.00. Following the sale, the insider directly owned 171,285 shares of the company’s stock, valued at approximately C$5,215,628.25. This represents a 3.82% decrease in their ownership of the stock. Insiders have sold 18,000 shares of company stock valued at $546,140 over the last 90 days. 45.36% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on POU. Raymond James Financial raised their price objective on Paramount Resources from C$29.00 to C$31.00 and gave the company an “outperform” rating in a research report on Wednesday, March 4th. Canadian Imperial Bank of Commerce raised their price target on shares of Paramount Resources from C$25.50 to C$30.50 in a report on Wednesday, March 4th. Roth Mkm set a C$33.00 price objective on shares of Paramount Resources and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Jefferies Financial Group reduced their price objective on shares of Paramount Resources from C$29.00 to C$28.00 in a research note on Tuesday, January 20th. Finally, BMO Capital Markets raised their target price on shares of Paramount Resources from C$24.00 to C$32.00 and gave the company an “outperform” rating in a research note on Wednesday, March 4th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$31.22.

About Paramount Resources

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”.