Paramount Resources (TSE:POU) Issues Quarterly Earnings Results

Paramount Resources (TSE:POU) posted its quarterly earnings results on Thursday. The company reported C($2.65) EPS for the quarter, FiscalAI reports. Paramount Resources had a return on equity of 4.30% and a net margin of 11.19%. The company had revenue of C$257.10 million during the quarter.

Paramount Resources Stock Down 2.7%

Shares of Paramount Resources stock traded down C$0.89 during trading on Thursday, hitting C$31.83. 784,858 shares of the stock traded hands, compared to its average volume of 279,082. The company has a current ratio of 1.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.90. The stock’s fifty day simple moving average is C$32.19 and its 200 day simple moving average is C$29.66. The firm has a market cap of C$4.64 billion, a P/E ratio of 40.81, a price-to-earnings-growth ratio of 0.14 and a beta of -0.07. Paramount Resources has a 52-week low of C$21.69 and a 52-week high of C$35.32.

Paramount Resources Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 30th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, November 16th. This represents a $0.60 annualized dividend and a dividend yield of 1.9%. Paramount Resources’s dividend payout ratio (DPR) is currently 76.92%.

Analyst Upgrades and Downgrades

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

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”.