Paramount Resources (TSE:POU) Hits New 52-Week High – Here’s What Happened

Paramount Resources Ltd. (TSE:POU) shares hit a new 52-week high during trading on Tuesday. The stock traded as high as C$33.48 and last traded at C$33.37, with a volume of 84,215 shares traded. The stock had previously closed at C$32.10.

Analyst Ratings Changes

POU has been the subject of several research analyst reports. Scotia lifted their price objective on 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. ATB Cormark Capital Markets boosted their price objective on Paramount Resources from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Royal Bank Of Canada increased their target price on Paramount Resources from C$35.00 to C$37.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. Scotiabank upgraded Paramount Resources to a “hold” rating in a research note on Friday, June 26th. Finally, BMO Capital Markets lifted their price target 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 investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$34.35.

Paramount Resources Price Performance

The stock’s 50-day moving average price is C$31.46 and its 200-day moving average price is C$30.02. The company has a market capitalization of C$4.86 billion, a price-to-earnings ratio of 42.73, a price-to-earnings-growth ratio of 0.14 and a beta of -0.16. The company has a quick ratio of 0.68, a current ratio of 1.87 and a debt-to-equity ratio of 0.90.

Paramount Resources (TSE:POU) last released its quarterly earnings results on Thursday, August 6th. The company reported C$0.47 EPS for the quarter. The business 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 research analysts anticipate that Paramount Resources Ltd. will post 1.41 earnings per share for the current year.

Paramount Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 30th will be given a $0.05 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Thursday, October 15th. Paramount Resources’s dividend payout ratio (DPR) is presently 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”.