Paramount Resources Ltd. to Issue Monthly Dividend of $0.15 (TSE:POU)

Paramount Resources Ltd. (TSE:POU) announced a monthly dividend on Tuesday, July 2nd, Zacks reports. Investors of record on Monday, July 15th will be paid a dividend of 0.15 per share on Wednesday, July 31st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date is Monday, July 15th.

Paramount Resources Trading Up 0.4 %

POU traded up C$0.14 during midday trading on Thursday, reaching C$31.76. 5,210 shares of the company were exchanged, compared to its average volume of 240,610. The stock has a market capitalization of C$4.64 billion, a P/E ratio of 13.75, a PEG ratio of 0.14 and a beta of 3.19. The stock’s 50-day simple moving average is C$31.71 and its 200 day simple moving average is C$28.81. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.68 and a current ratio of 0.67. 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 posted its earnings results on Thursday, May 2nd. The company reported C$0.46 earnings per share for the quarter, missing the consensus estimate of C$0.59 by C($0.13). Paramount Resources had a return on equity of 9.92% and a net margin of 19.97%. The firm had revenue of C$452.30 million during the quarter, compared to analyst estimates of C$415.00 million. As a group, analysts forecast that Paramount Resources will post 1.8292264 earnings per share for the current fiscal year.

Insider Transactions at Paramount Resources

In other Paramount Resources news, Director James Geral Bell sold 6,666 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of C$29.03, for a total transaction of C$193,513.98. In other news, Senior Officer John B. Williams sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of C$29.60, for a total value of C$236,800.00. Also, Director James Geral Bell sold 6,666 shares of Paramount Resources stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of C$29.03, for a total value of C$193,513.98. In the last three months, insiders sold 120,327 shares of company stock worth $3,791,305. 45.57% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

POU has been the subject of a number of research reports. Scotiabank lowered their target price on 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. ATB Capital lowered their target price on Paramount Resources from C$37.00 to C$36.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. CIBC increased their price objective on Paramount Resources from C$35.00 to C$37.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Cormark downgraded Paramount Resources from a “buy” rating to a “market perform” rating and reduced their price target for the stock from C$40.00 to C$37.50 in a research report on Thursday, March 7th. Finally, Jefferies Financial Group lowered their price objective on shares of Paramount Resources from C$33.00 to C$31.00 in a report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$35.95.

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.