Brokerages Set Paramount Resources Ltd. (TSE:POU) Target Price at C$34.35

Paramount Resources Ltd. (TSE:POU) has received an average rating of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$34.35.

A number of brokerages have weighed in on POU. Scotiabank upgraded Paramount Resources to a “hold” rating in a research note on Friday, June 26th. Scotia raised their target price on shares of Paramount Resources from C$34.00 to C$36.00 and gave the stock a “sector perform” rating in a research report on Friday, August 7th. BMO Capital Markets lifted their target price on shares of Paramount Resources from C$35.00 to C$37.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Royal Bank Of Canada upped their price target on shares of Paramount Resources from C$35.00 to C$37.00 and gave the company a “sector perform” rating in a research report on Friday, August 7th. Finally, ATB Cormark Capital Markets raised their price objective 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.

Insider Activity

In related news, Director James Geral Bell sold 2,050 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of C$27.17, for a total value of C$55,698.50. 45.36% of the stock is currently owned by company insiders.

Paramount Resources Price Performance

Shares of POU opened at C$30.23 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.87 and a quick ratio of 0.68. Paramount Resources has a 1-year low of C$21.69 and a 1-year high of C$33.44. The stock has a market cap of C$4.41 billion, a PE ratio of 38.76, a price-to-earnings-growth ratio of 0.14 and a beta of -0.26. The firm has a fifty day moving average price of C$30.93 and a 200 day moving average price of C$29.88.

Paramount Resources (TSE:POU) last posted its earnings results on Thursday, August 6th. The company reported C$0.47 earnings per share for the quarter. The business had revenue of C$317.90 million during the quarter. Paramount Resources had a return on equity of 4.30% and a net margin of 11.19%. As a group, sell-side analysts anticipate that Paramount Resources will post 1.4075758 EPS for the current year.

Paramount Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th will be given a $0.05 dividend. This represents a c) dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, September 15th. Paramount Resources’s dividend payout ratio (DPR) is 76.92%.

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”.