Paramount Resources (TSE:POU) Price Target Raised to C$36.00

Paramount Resources (TSE:POU) had its price target upped by Raymond James Financial from C$34.00 to C$36.00 in a research note published on Wednesday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also issued reports on POU. ATB Cormark Capital Markets boosted their target price on Paramount Resources from C$28.00 to C$33.00 and gave the stock an “outperform” rating in a research report 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. Jefferies Financial Group cut their target price on Paramount Resources from C$29.00 to C$28.00 in a research report on Tuesday, January 20th. Roth Mkm set a C$33.00 target price on Paramount Resources and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Finally, BMO Capital Markets boosted their target price on Paramount Resources from C$24.00 to C$32.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 4th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Paramount Resources has a consensus rating of “Moderate Buy” and a consensus price target of C$32.94.

Paramount Resources Stock Up 2.3%

POU opened at C$32.06 on Wednesday. Paramount Resources has a one year low of C$18.61 and a one year high of C$32.06. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 2.57. The stock’s fifty day moving average is C$29.12 and its 200-day moving average is C$26.13. The company has a market capitalization of C$4.66 billion, a PE ratio of 80.15, a P/E/G ratio of 0.14 and a beta of -0.03.

Paramount Resources (TSE:POU) last announced its earnings results on Tuesday, May 12th. The company reported C$0.36 earnings per share (EPS) for the quarter. The company had revenue of C$276.20 million for the quarter. Paramount Resources had a return on equity of 1.96% and a net margin of 5.90%. On average, equities analysts predict that Paramount Resources will post 1.4075758 EPS for the current fiscal year.

Paramount Resources Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 29th will be given a dividend of $0.05 per share. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, May 15th. Paramount Resources’s payout ratio is presently 150.00%.

Insiders Place Their Bets

In related news, insider Tyson Riddell sold 5,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of C$31.36, for a total transaction of C$156,800.00. Following the transaction, the insider directly owned 14,458 shares of the company’s stock, valued at approximately C$453,402.88. The trade was a 25.70% decrease in their ownership of the stock. Also, insider David Blake Reid sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of C$30.90, for a total value of C$772,500.00. Following the transaction, the insider directly owned 172,313 shares in the company, valued at C$5,324,471.70. The trade was a 12.67% decrease in their ownership of the stock. Over the last ninety days, insiders bought 9,688 shares of company stock valued at $295,917 and sold 48,000 shares valued at $1,475,440. Company insiders own 45.36% of the company’s stock.

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”.