Paramount Resources Ltd. (TSE:POU) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Paramount Resources Ltd. (TSE:POU) has been given a consensus rating of “Moderate Buy” by the seven analysts that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is C$32.94.

Several equities analysts have weighed in on POU shares. Raymond James Financial lifted their target price on Paramount Resources from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Scotiabank raised shares of Paramount Resources to a “hold” rating in a research report on Friday, June 26th. Royal Bank Of Canada raised their price target on shares of Paramount Resources from C$32.00 to C$35.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 13th. Finally, National Bank Financial boosted their price objective on shares of Paramount Resources from C$36.00 to C$38.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 13th.

Insider Activity

In other Paramount Resources news, Director James Geral Bell sold 2,050 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of C$27.17, for a total value of C$55,698.50. Also, Director Dirk Jungé sold 8,850 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of C$30.97, for a total value of C$274,084.50. Following the completion of the transaction, the director directly owned 57,915 shares in the company, valued at approximately C$1,793,627.55. The trade was a 13.26% decrease in their ownership of the stock. In the last quarter, insiders have acquired 10,148 shares of company stock valued at $308,401 and have sold 44,800 shares valued at $1,388,875. Company insiders own 45.36% of the company’s stock.

Paramount Resources Stock Up 3.0%

TSE:POU traded up C$0.82 during trading hours on Tuesday, hitting C$28.46. 47,001 shares of the stock traded hands, compared to its average volume of 287,586. The firm has a 50 day moving average price of C$29.82 and a 200 day moving average price of C$27.58. The firm has a market cap of C$4.14 billion, a price-to-earnings ratio of 71.15, a PEG ratio of 0.14 and a beta of -0.24. Paramount Resources has a fifty-two week low of C$19.37 and a fifty-two week high of C$33.44. The company has a current ratio of 2.57, a quick ratio of 0.68 and a debt-to-equity ratio of 0.89.

Paramount Resources (TSE:POU) last issued its quarterly earnings results on Tuesday, May 12th. The company reported C$0.36 earnings per share for the quarter. The business had revenue of C$276.20 million for the quarter. Paramount Resources had a return on equity of 1.96% and a net margin of 5.90%. Equities research analysts anticipate that Paramount Resources will post 1.4075758 earnings per share for the current year.

Paramount Resources Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 31st will be issued a dividend of $0.05 per share. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, July 17th. Paramount Resources’s dividend payout ratio (DPR) is currently 150.00%.

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”.