Paramount Resources Ltd. (TSE:POU) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Paramount Resources Ltd. (TSE:POU) have been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is C$37.25.

POU has been the topic of a number of research reports. Scotiabank upped their target price on shares of Paramount Resources from C$42.00 to C$43.00 in a research report on Friday, July 12th. Cormark upgraded Paramount Resources to a “hold” rating in a report on Monday, September 23rd. CIBC upped their target price on shares of Paramount Resources from C$37.00 to C$38.00 in a research note on Monday, July 15th. BMO Capital Markets increased their price target on Paramount Resources from C$38.50 to C$40.00 in a report on Wednesday, July 3rd. Finally, Jefferies Financial Group dropped their price target on Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating on the stock in a research note on Monday, September 16th.

Paramount Resources Stock Performance

TSE:POU opened at C$25.80 on Monday. The stock has a market capitalization of C$3.78 billion, a P/E ratio of 10.93, a price-to-earnings-growth ratio of 0.14 and a beta of 3.06. Paramount Resources has a 1 year low of C$24.51 and a 1 year high of C$33.80. The firm has a 50 day moving average of C$27.60 and a 200-day moving average of C$29.40. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83.

Paramount Resources (TSE:POU) last issued its quarterly earnings results on Thursday, August 1st. The company reported C$0.57 earnings per share for the quarter. The business had revenue of C$443.60 million during the quarter, compared to analyst estimates of C$468.00 million. Paramount Resources had a net margin of 19.66% and a return on equity of 10.03%. As a group, sell-side analysts anticipate that Paramount Resources will post 1.3030303 EPS for the current fiscal year.

Paramount Resources Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 16th were paid a $0.15 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 6.98%. The ex-dividend date of this dividend was Monday, September 16th. Paramount Resources’s dividend payout ratio (DPR) is presently 76.27%.

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.