Royal Bank of Canada Boosts Paramount Resources (TSE:POU) Price Target to C$36.00

Paramount Resources (TSE:POU) had its target price boosted by Royal Bank of Canada from C$34.00 to C$36.00 in a research note issued to investors on Friday morning, BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Other analysts have also recently issued research reports about the stock. Raymond James decreased their price target on shares of Paramount Resources from C$40.00 to C$36.00 and set an outperform rating for the company in a research note on Friday, January 19th. ATB Capital reduced their price objective on 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. Jefferies Financial Group dropped their target price on Paramount Resources from C$33.00 to C$31.00 in a report on Thursday, March 7th. BMO Capital Markets lifted their price objective on shares of Paramount Resources from C$37.00 to C$38.50 and gave the company an outperform rating in a research report on Friday. Finally, Cormark downgraded shares of Paramount Resources from a buy rating to a market perform rating and cut their price objective for the stock from C$40.00 to C$37.50 in a research report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of C$35.80.

Paramount Resources Stock Performance

Shares of POU stock opened at C$32.05 on Friday. Paramount Resources has a 1 year low of C$24.59 and a 1 year high of C$33.80. 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 has a market cap of C$4.63 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.14 and a beta of 3.23. The stock’s 50-day moving average is C$28.80 and its two-hundred day moving average is C$27.90.

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 analyst estimates of C$436.00 million. Paramount Resources had a return on equity of 13.67% and a net margin of 26.13%. Analysts predict that Paramount Resources will post 2.3708207 earnings per share for the current year.

Paramount Resources Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 31st will be issued a $0.15 dividend. This is a positive change from Paramount Resources’s previous monthly dividend of $0.13. The ex-dividend date is Tuesday, May 14th. This represents a $1.80 annualized dividend and a yield of 5.62%. Paramount Resources’s dividend payout ratio is 47.32%.

Insider Transactions at Paramount Resources

In other Paramount Resources news, Senior Officer Bernard K. Lee sold 20,000 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of C$30.50, for a total value of C$610,000.00. In related news, Senior Officer Bernard K. Lee sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of C$30.50, for a total value of C$610,000.00. Also, Director Dirk Jungé sold 4,027 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of C$28.56, for a total value of C$115,028.03. Insiders sold 69,655 shares of company stock valued at $2,021,257 in the last 90 days. 45.75% of the stock is currently owned by insiders.

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.