Paramount Resources (TSE:POU) PT Raised to C$38.50

Paramount Resources (TSE:POU) had its price objective increased by BMO Capital Markets from C$37.00 to C$38.50 in a research note released on Friday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Other research analysts also recently issued research reports about the company. National Bankshares upped their price objective on 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. Scotiabank lowered their price objective on Paramount Resources from C$30.00 to C$29.00 and set an outperform rating for the company in a research report on Thursday, March 7th. ATB Capital dropped their target price on shares of Paramount Resources from C$37.00 to C$36.00 and set an outperform rating on the stock in a research report on Thursday, March 7th. Raymond James dropped their price target on Paramount Resources from C$40.00 to C$36.00 and set an outperform rating on the stock in a research note on Friday, January 19th. Finally, Royal Bank of Canada dropped their price objective on shares of Paramount Resources from C$33.00 to C$32.00 and set a sector perform rating on the stock in a research note on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of C$35.80.

Paramount Resources Price Performance

POU stock opened at C$32.46 on Friday. The company’s 50-day moving average price is C$28.87 and its two-hundred day moving average price is C$27.90. The firm has a market cap of C$4.69 billion, a P/E ratio of 10.24, a P/E/G ratio of 0.14 and a beta of 3.23. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of 0.83. Paramount Resources has a 12 month low of C$24.59 and a 12 month high of C$33.80.

Paramount Resources (TSE:POU) last released its earnings results on Wednesday, March 6th. The company reported C$0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.95 by C($0.20). The business had revenue of C$470.50 million during the quarter, compared to the consensus estimate of C$436.00 million. Paramount Resources had a net margin of 26.13% and a return on equity of 13.67%. On average, analysts anticipate that Paramount Resources will post 2.3708207 earnings per share for the current fiscal year.

Paramount Resources Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 31st will be issued a dividend of $0.15 per share. This is a positive change from Paramount Resources’s previous monthly dividend of $0.13. This represents a $1.80 dividend on an annualized basis and a yield of 5.55%. The ex-dividend date is Tuesday, May 14th. Paramount Resources’s dividend payout ratio (DPR) is 47.32%.

Insider Buying and Selling

In other news, Senior Officer Michael S. Han sold 30,040 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of C$28.00, for a total transaction of C$841,120.00. In other news, Senior Officer Bernard K. Lee sold 20,000 shares of Paramount Resources stock in a transaction dated Friday, April 12th. The stock was sold at an average price of C$30.50, for a total transaction of C$610,000.00. Also, Senior Officer Michael S. Han sold 30,040 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of C$28.00, for a total value of C$841,120.00. In the last ninety days, insiders have sold 77,655 shares of company stock valued at $2,278,857. 45.75% of the stock is owned by insiders.

About Paramount Resources

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.