Paramount Resources Ltd. (TSE:POU) Given Average Recommendation of “Moderate Buy” by Analysts

Paramount Resources Ltd. (TSE:POU) has received an average rating of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is C$32.94.

Several brokerages recently weighed in on POU. Canadian Imperial Bank of Commerce upped their target price on shares of Paramount Resources from C$25.50 to C$30.50 in a report on Wednesday, March 4th. Royal Bank Of Canada upped their target price on shares of Paramount Resources from C$32.00 to C$35.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 13th. National Bank Financial upped their target price on shares of Paramount Resources from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 13th. BMO Capital Markets upped their target price on shares of Paramount Resources from C$24.00 to C$32.00 and gave the stock an “outperform” rating in a report on Wednesday, March 4th. Finally, Raymond James Financial upped their target price on shares of Paramount Resources from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th.

Insider Activity

In other Paramount Resources news, insider John B. Williams sold 6,800 shares of the stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of C$30.45, for a total transaction of C$207,060.00. Following the completion of the transaction, the insider owned 171,285 shares of the company’s stock, valued at C$5,215,628.25. This represents a 3.82% decrease in their position. Also, insider Rodrigo Sousa acquired 6,946 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were bought at an average cost of C$30.50 per share, with a total value of C$211,853.00. Following the acquisition, the insider directly owned 25,100 shares in the company, valued at approximately C$765,550. The trade was a 38.26% increase in their ownership of the stock. Over the last 90 days, insiders purchased 9,688 shares of company stock worth $295,917 and sold 48,000 shares worth $1,475,440. Company insiders own 45.36% of the company’s stock.

Paramount Resources Trading Up 0.6%

TSE:POU opened at C$33.07 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.57 and a quick ratio of 0.68. The firm has a market capitalization of C$4.81 billion, a price-to-earnings ratio of 82.68, a price-to-earnings-growth ratio of 0.14 and a beta of -0.03. Paramount Resources has a one year low of C$18.82 and a one year high of C$33.44. The business has a fifty day moving average price of C$29.46 and a 200-day moving average price of C$26.48.

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

Paramount Resources Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 29th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a c) annualized dividend and a yield of 1.8%. Paramount Resources’s dividend payout ratio is currently 150.00%.

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”.