Paramount Resources (TSE:POU) Price Target Raised to C$38.50

Paramount Resources (TSE:POU) had its price target lifted by BMO Capital Markets from C$37.00 to C$38.50 in a research report sent to investors on Friday, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also commented on POU. Scotiabank decreased their price objective on shares of Paramount Resources from C$30.00 to C$29.00 and set an outperform rating for the company in a research note on Thursday, March 7th. Raymond James decreased their target price on Paramount Resources from C$40.00 to C$36.00 and set an outperform rating for the company in a research report on Friday, January 19th. Jefferies Financial Group dropped their price target on Paramount Resources from C$33.00 to C$31.00 in a research report on Thursday, March 7th. Cormark lowered Paramount Resources from a buy rating to a market perform rating and decreased their price objective for the stock from C$40.00 to C$37.50 in a research report on Thursday, March 7th. Finally, Royal Bank of Canada lowered their price objective on shares of Paramount Resources from C$33.00 to C$32.00 and set a sector perform rating on the stock in a research report on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Paramount Resources has an average rating of Moderate Buy and a consensus target price of C$35.80.

Paramount Resources Trading Up 0.2 %

TSE:POU opened at C$32.05 on Friday. The stock has a fifty day simple moving average of C$28.80 and a 200 day simple moving average of C$27.90. The firm has a market capitalization of C$4.63 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 0.14 and a beta of 3.23. Paramount Resources has a 1-year low of C$24.59 and a 1-year high of C$33.80. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of 0.83.

Paramount Resources (TSE:POU) last posted its quarterly earnings data on Wednesday, March 6th. The company reported C$0.75 EPS for the quarter, missing analysts’ consensus estimates 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%. Sell-side analysts forecast that Paramount Resources will post 2.3708207 earnings per share for the current year.

Paramount Resources Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 31st will be paid a dividend of $0.15 per share. 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 dividend yield of 5.62%. Paramount Resources’s dividend payout ratio is 47.32%.

Insider Activity at Paramount Resources

In other Paramount Resources news, Senior Officer Michael S. Han sold 30,040 shares of the 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 other Paramount Resources news, Senior Officer Michael S. Han sold 30,040 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of C$28.00, for a total transaction of C$841,120.00. Also, Senior Officer Bernard K. Lee sold 20,000 shares of Paramount Resources stock in a transaction that occurred 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. In the last 90 days, insiders sold 69,655 shares of company stock valued at $2,021,257. Insiders own 45.75% of the company’s stock.

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.