Brokerages Set Paramount Resources Ltd. (TSE:POU) Price Target at C$34.95

Paramount Resources Ltd. (TSE:POU) has received a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is C$34.95.

POU has been the topic of several analyst reports. Raymond James reduced their price target on shares of Paramount Resources from C$40.00 to C$36.00 and set an “outperform” rating on the stock in a research report on Friday, January 19th. Scotiabank cut their target price on Paramount Resources from C$30.00 to C$29.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. CIBC boosted their target price on Paramount Resources from C$30.00 to C$35.00 and gave the company a “neutral” rating in a research report on Monday, April 22nd. Royal Bank of Canada dropped their price target on shares of Paramount Resources from C$33.00 to C$32.00 and set a “sector perform” rating for the company in a research note on Thursday, March 7th. Finally, ATB Capital dropped their price target on shares of Paramount Resources from C$37.00 to C$36.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th.

Insider Buying and Selling

In related news, Senior Officer Michael S. Han sold 30,040 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of C$28.00, for a total transaction of C$841,120.00. In related news, Senior Officer Michael S. Han sold 30,040 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of C$28.00, for a total value of C$841,120.00. Also, Senior Officer Bernard K. Lee sold 20,000 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of C$30.50, for a total transaction of C$610,000.00. Over the last quarter, insiders sold 69,655 shares of company stock worth $2,021,257. Corporate insiders own 45.91% of the company’s stock.

Paramount Resources Stock Up 1.3 %

POU stock opened at C$31.98 on Friday. The firm has a market cap of C$4.62 billion, a PE ratio of 10.09, a PEG ratio of 0.14 and a beta of 3.31. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.71. The firm’s 50 day moving average price is C$28.47 and its 200-day moving average price is C$27.87. Paramount Resources has a one year low of C$24.59 and a one year high of C$33.80.

Paramount Resources (TSE:POU) last released its quarterly earnings results on Wednesday, March 6th. The company reported C$0.75 EPS for the quarter, missing the consensus estimate of C$0.95 by C($0.20). The firm had revenue of C$470.50 million for the quarter, compared to analysts’ expectations of C$436.00 million. Paramount Resources had a net margin of 26.13% and a return on equity of 13.67%. On average, equities research analysts anticipate that Paramount Resources will post 2.5252525 EPS for the current year.

Paramount Resources Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 4.69%. Paramount Resources’s payout ratio is currently 47.32%.

About Paramount Resources

Paramount Resources Ltd. explores for and develops conventional and unconventional petroleum and natural gas reserves and resources in Canada. The company holds interests in the Karr and Wapiti Montney properties covering an area of 109,000 net acres located south of the city of Grande Prairie, Alberta; Kaybob North Duvernay development and natural gas producing properties covering an area of 124,000 net acres located in west-central Alberta; and Willesden Green Duvernay development in central Alberta and shale gas producing properties in the Horn River Basin in northeast British Columbia covering an area of 249,000 net acres.