Paramount Resources Ltd. (TSE:POU) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Paramount Resources Ltd. (TSE:POU) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is C$34.35.

A number of equities research analysts have commented on POU shares. Royal Bank Of Canada increased their target price on Paramount Resources from C$35.00 to C$37.00 and gave the company a “sector perform” rating in a report on Friday, August 7th. ATB Cormark Capital Markets upped their price objective on Paramount Resources from C$35.00 to C$37.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Scotia increased their price objective on Paramount Resources from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. Raymond James Financial increased their price objective on Paramount Resources from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, Scotiabank upgraded Paramount Resources to a “hold” rating in a research report on Friday, June 26th.

Insider Transactions at Paramount Resources

In related news, Director Dirk Jungé sold 8,850 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of C$30.97, for a total transaction of C$274,084.50. Following the transaction, the director owned 57,915 shares of the company’s stock, valued at approximately C$1,793,627.55. This represents a 13.26% decrease in their ownership of the stock. Also, Director James Geral Bell sold 2,050 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of C$27.17, for a total transaction of C$55,698.50. Insiders own 45.36% of the company’s stock.

Paramount Resources Stock Down 2.7%

Shares of TSE POU opened at C$31.49 on Wednesday. The firm’s 50-day moving average is C$29.42 and its two-hundred day moving average is C$29.10. The company has a market capitalization of C$4.59 billion, a PE ratio of 40.37, a price-to-earnings-growth ratio of 0.14 and a beta of -0.25. Paramount Resources has a 12-month low of C$19.92 and a 12-month high of C$33.44. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.87 and a quick ratio of 0.68.

Paramount Resources (TSE:POU) last issued its quarterly earnings data on Thursday, August 6th. The company reported C$0.47 earnings per share for the quarter. Paramount Resources had a net margin of 11.19% and a return on equity of 4.30%. The business had revenue of C$317.90 million during the quarter. Equities analysts anticipate that Paramount Resources will post 1.4075758 EPS for the current fiscal year.

Paramount Resources Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 31st will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, August 17th. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%. Paramount Resources’s payout ratio is 76.92%.

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”.