Paramount Resources (TSE:POU) Sets New 52-Week High – Should You Buy?

Paramount Resources Ltd. (TSE:POU)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as C$33.32 and last traded at C$33.23, with a volume of 392426 shares. The stock had previously closed at C$32.06.

Analyst Upgrades and Downgrades

POU has been the topic of several recent research reports. Roth Mkm set a C$33.00 price objective on shares of Paramount Resources and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Raymond James Financial increased their price objective on shares of Paramount Resources from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Royal Bank Of Canada increased their price objective on shares of Paramount Resources from C$32.00 to C$35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 13th. BMO Capital Markets increased their price objective on shares of 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. Finally, Canadian Imperial Bank of Commerce increased their price objective on shares of Paramount Resources from C$25.50 to C$30.50 in a research note on Wednesday, March 4th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Paramount Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of C$32.94.

Paramount Resources Stock Performance

The company has a market cap of C$4.83 billion, a P/E ratio of 83.08, a PEG ratio of 0.14 and a beta of -0.03. The business’s 50 day simple moving average is C$29.25 and its 200 day simple moving average is C$26.29. The company has a current ratio of 2.57, a quick ratio of 0.68 and a debt-to-equity ratio of 0.89.

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

Paramount Resources Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, May 15th. This represents a c) dividend on an annualized basis and a yield of 1.8%. Paramount Resources’s dividend payout ratio (DPR) is presently 150.00%.

Insider Activity

In other Paramount Resources news, insider Tyson Riddell sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of C$31.36, for a total transaction of C$156,800.00. Following the sale, the insider owned 14,458 shares in the company, valued at approximately C$453,402.88. This trade represents a 25.70% decrease in their position. Also, insider John B. Williams sold 6,800 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of C$30.45, for a total transaction of C$207,060.00. Following the sale, the insider owned 171,285 shares in the company, valued at approximately C$5,215,628.25. The trade was a 3.82% decrease in their position. In the last quarter, insiders have purchased 9,688 shares of company stock worth $295,917 and have sold 48,000 shares worth $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”.