Paramount Resources (TSE:POU) Releases Quarterly Earnings Results

Paramount Resources (TSE:POU) issued its quarterly earnings results on Tuesday. The company reported C($0.03) earnings per share for the quarter, FiscalAI reports. Paramount Resources had a return on equity of 47.09% and a net margin of 106.31%.The business had revenue of C$262.50 million for the quarter.

Paramount Resources Stock Up 1.2%

Shares of TSE POU traded up C$0.34 during trading hours on Wednesday, hitting C$29.76. 85,808 shares of the stock were exchanged, compared to its average volume of 274,476. Paramount Resources has a 12 month low of C$14.50 and a 12 month high of C$30.07. The firm has a fifty day moving average price of C$24.86 and a 200-day moving average price of C$23.40. The company has a quick ratio of 0.68, a current ratio of 3.35 and a debt-to-equity ratio of 0.99. The company has a market cap of C$4.27 billion, a PE ratio of 3.17, a PEG ratio of 0.14 and a beta of 0.19.

Paramount Resources Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 27th were paid a dividend of $0.05 per share. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, February 13th. Paramount Resources’s payout ratio is 9.58%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Raymond James Financial upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Thursday, January 15th. Scotiabank increased their price target on Paramount Resources from C$29.00 to C$31.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Finally, Jefferies Financial Group dropped their target price on shares of Paramount Resources from C$29.00 to C$28.00 in a research note on Tuesday, January 20th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Paramount Resources currently has a consensus rating of “Moderate Buy” and an average target price of C$27.58.

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”.