Paramount Resources (TSE:POU) Price Target Raised to C$35.00 at CIBC

Paramount Resources (TSE:POU) had its target price raised by CIBC from C$30.00 to C$35.00 in a research report sent to investors on Monday morning, BayStreet.CA reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently issued reports on POU. Scotiabank dropped their price objective on Paramount Resources from C$30.00 to C$29.00 and set an outperform rating for the company in a report on Thursday, March 7th. Raymond James dropped their price objective on Paramount Resources from C$40.00 to C$36.00 and set an outperform rating for the company in a report on Friday, January 19th. ATB Capital dropped their price objective 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. Jefferies Financial Group decreased their target price on Paramount Resources from C$33.00 to C$31.00 in a research report on Thursday, March 7th. Finally, BMO Capital Markets set a C$37.00 target price on Paramount Resources and gave the company an outperform rating in a research report on Tuesday, April 9th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of C$34.65.

Paramount Resources Price Performance

Shares of Paramount Resources stock opened at C$29.40 on Monday. The stock has a market cap of C$4.25 billion, a price-to-earnings ratio of 9.27, a price-to-earnings-growth 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 stock has a 50 day moving average price of C$28.11 and a 200-day moving average price of C$27.84. 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 quarterly earnings data on Wednesday, March 6th. The company reported C$0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.95 by C($0.20). Paramount Resources had a net margin of 26.13% and a return on equity of 13.67%. The business had revenue of C$470.50 million for the quarter, compared to analysts’ expectations of C$436.00 million. Equities analysts expect that Paramount Resources will post 2.5252525 EPS for the current year.

Paramount Resources Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be paid a dividend of $0.125 per share. The ex-dividend date is Friday, April 12th. This represents a $1.50 annualized dividend and a yield of 5.10%. Paramount Resources’s payout ratio is presently 47.32%.

Insider Buying and Selling at Paramount Resources

In other Paramount Resources news, Senior Officer Michael S. Han sold 30,040 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of C$28.00, for a total transaction of C$841,120.00. In other news, Senior Officer Michael S. Han sold 30,040 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of C$28.00, for a total value of C$841,120.00. Also, Director James Geral Bell sold 6,666 shares of the 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 90 days, insiders have sold 69,655 shares of company stock worth $2,021,257. 45.91% 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.