Paramount Resources (TSE:POU) Sets New 1-Year High – Should You Buy?

Paramount Resources Ltd. (TSE:POU)’s stock price hit a new 52-week high during trading on Monday. The stock traded as high as C$34.72 and last traded at C$34.72, with a volume of 163,355 shares. The stock had previously closed at C$34.39.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on POU shares. Scotia lifted their price objective on shares of Paramount Resources from C$34.00 to C$36.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. Royal Bank Of Canada raised their price objective on Paramount Resources from C$35.00 to C$37.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. BMO Capital Markets lifted their target price on Paramount Resources from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Scotiabank raised Paramount Resources to a “hold” rating in a research report on Friday, June 26th. Finally, ATB Cormark Capital Markets upped their target price on Paramount Resources from C$35.00 to C$37.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$34.35.

Paramount Resources Stock Up 0.7%

The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.68 and a current ratio of 1.87. The stock has a market cap of C$5.05 billion, a price-to-earnings ratio of 44.41, a price-to-earnings-growth ratio of 0.14 and a beta of -0.16. The business’s 50 day moving average is C$31.60 and its 200 day moving average is C$30.07.

Paramount Resources (TSE:POU) last announced its earnings results on Thursday, August 6th. The company reported C$0.47 earnings per share (EPS) for the quarter. The company had revenue of C$317.90 million for the quarter. Paramount Resources had a net margin of 11.19% and a return on equity of 4.30%. Equities analysts expect that Paramount Resources Ltd. will post 1.41 earnings per share for the current year.

Paramount Resources Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 30th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.7%. Paramount Resources’s dividend payout ratio is 76.92%.

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”.