Paramount Resources (TSE:POU) Sets New 1-Year High – Should You Buy?

Paramount Resources Ltd. (TSE:POU) hit a new 52-week high on Friday . The company traded as high as C$30.40 and last traded at C$30.33, with a volume of 106321 shares changing hands. The stock had previously closed at C$29.77.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Raymond James Financial increased their target price on shares of Paramount Resources from C$29.00 to C$31.00 and gave the company an “outperform” rating in a research note on Wednesday, March 4th. Roth Mkm set a C$33.00 price objective on Paramount Resources and gave the company a “buy” rating in a research report on Wednesday, March 4th. BMO Capital Markets raised their price objective on Paramount Resources from C$24.00 to C$32.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 4th. Canadian Imperial Bank of Commerce boosted their target price on Paramount Resources from C$25.50 to C$30.50 in a research report on Wednesday, March 4th. Finally, Royal Bank Of Canada upped their target price on Paramount Resources from C$26.00 to C$30.00 and gave the company a “sector perform” rating in a report on Wednesday, March 4th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$31.22.

Paramount Resources Trading Up 1.7%

The company has a quick ratio of 0.68, a current ratio of 3.77 and a debt-to-equity ratio of 0.94. The firm has a market cap of C$4.37 billion, a price-to-earnings ratio of 3.45, a PEG ratio of 0.14 and a beta of 0.14. The company has a 50-day moving average price of C$26.25 and a 200 day moving average price of C$24.14.

Paramount Resources (TSE:POU) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported C($0.03) earnings per share (EPS) for the quarter. The company had revenue of C$262.50 million during the quarter. Paramount Resources had a return on equity of 48.07% and a net margin of 129.11%. As a group, research analysts anticipate that Paramount Resources Ltd. will post 1.4075758 earnings per share for the current fiscal year.

Paramount Resources Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.05 per share. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, March 16th. Paramount Resources’s payout ratio is currently 6.83%.

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”.