Paramount Resources (TSE:POU) Price Target Increased to C$35.00 by Analysts at CIBC

Paramount Resources (TSE:POU) had its target price hoisted by CIBC from C$30.00 to C$35.00 in a report issued on Monday morning, BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

Several other research firms have also weighed in on POU. BMO Capital Markets set a C$37.00 price objective on shares of Paramount Resources and gave the company an outperform rating in a research note on Tuesday, April 9th. Jefferies Financial Group lowered their price objective on shares of Paramount Resources from C$33.00 to C$31.00 in a research note on Thursday, March 7th. National Bankshares lifted their price objective on shares of Paramount Resources from C$37.50 to C$40.00 and gave the company an outperform rating in a research note on Friday, April 19th. Cormark lowered shares of Paramount Resources from a buy rating to a market perform rating and lowered their price objective for the company from C$40.00 to C$37.50 in a research note on Thursday, March 7th. Finally, Royal Bank of Canada lowered their price objective on shares of Paramount Resources from C$33.00 to C$32.00 and set a sector perform rating for the company in a research note on Thursday, March 7th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of C$34.95.

Paramount Resources Stock Up 1.4 %

Paramount Resources stock opened at C$30.80 on Monday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.71. Paramount Resources has a 52-week low of C$24.59 and a 52-week high of C$33.80. The firm has a 50 day moving average price of C$28.29 and a two-hundred day moving average price of C$27.86. The firm has a market cap of C$4.45 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 0.14 and a beta of 3.31.

Paramount Resources (TSE:POU) last released its quarterly earnings results on Wednesday, March 6th. The company reported C$0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.95 by C($0.20). Paramount Resources had a return on equity of 13.67% and a net margin of 26.13%. The firm had revenue of C$470.50 million for the quarter, compared to the consensus estimate of C$436.00 million. Equities analysts predict that Paramount Resources will post 2.5252525 EPS for the current year.

Paramount Resources Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.50 dividend on an annualized basis and a yield of 4.87%. Paramount Resources’s dividend payout ratio (DPR) is presently 47.32%.

Insider Buying and Selling at Paramount Resources

In other Paramount Resources news, Senior Officer Bernard K. Lee sold 20,000 shares of Paramount Resources stock in a transaction on Friday, April 12th. The shares were sold at an average price of C$30.50, for a total transaction of C$610,000.00. In other Paramount Resources news, Senior Officer John B. Williams sold 8,000 shares of Paramount Resources stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of C$29.60, for a total transaction of C$236,800.00. Also, Senior Officer Bernard K. Lee sold 20,000 shares of Paramount Resources stock in a transaction on Friday, April 12th. The stock was sold at an average price of C$30.50, for a total transaction of C$610,000.00. In the last 90 days, insiders sold 69,655 shares of company stock worth $2,021,257. 45.91% of the stock is owned by corporate insiders.

Paramount Resources Company Profile

Paramount Resources Ltd. explores for and develops conventional and unconventional petroleum and natural gas reserves and resources in Canada. The company holds interests in the Karr and Wapiti Montney properties covering an area of 109,000 net acres located south of the city of Grande Prairie, Alberta; Kaybob North Duvernay development and natural gas producing properties covering an area of 124,000 net acres located in west-central Alberta; and Willesden Green Duvernay development in central Alberta and shale gas producing properties in the Horn River Basin in northeast British Columbia covering an area of 249,000 net acres.