Brokerages Set Paramount Resources Ltd. (TSE:POU) Price Target at C$32.94

Paramount Resources Ltd. (TSE:POU) has received a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is C$32.94.

A number of research firms have issued reports on POU. Roth Mkm set a C$33.00 target price on shares of Paramount Resources and gave the stock a “buy” rating in a report on Wednesday, March 4th. Raymond James Financial raised their price objective on shares of Paramount Resources from C$34.00 to C$36.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Canadian Imperial Bank of Commerce raised their price objective on shares of Paramount Resources from C$25.50 to C$30.50 in a report on Wednesday, March 4th. National Bank Financial raised their price objective on shares of Paramount Resources from C$36.00 to C$38.00 and gave the company a “sector perform” rating in a report on Wednesday, May 13th. Finally, BMO Capital Markets raised their price objective on shares of Paramount Resources from C$24.00 to C$32.00 and gave the company an “outperform” rating in a report on Wednesday, March 4th.

Insider Activity

In other news, insider Tyson Riddell sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of C$31.36, for a total value of C$156,800.00. Following the sale, the insider directly owned 14,458 shares in the company, valued at approximately C$453,402.88. This trade represents a 25.70% decrease in their position. Also, insider David Blake Reid sold 25,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of C$30.90, for a total transaction of C$772,500.00. Following the completion of the sale, the insider owned 172,313 shares in the company, valued at C$5,324,471.70. The trade was a 12.67% decrease in their ownership of the stock. Over the last quarter, insiders have acquired 9,688 shares of company stock valued at $295,917 and have sold 48,000 shares valued at $1,475,440. 45.36% of the stock is currently owned by corporate insiders.

Paramount Resources Price Performance

Paramount Resources stock opened at C$33.07 on Monday. The firm has a market cap of C$4.81 billion, a PE ratio of 82.68, a price-to-earnings-growth ratio of 0.14 and a beta of -0.03. Paramount Resources has a 52-week low of C$18.82 and a 52-week high of C$33.44. The company has a quick ratio of 0.68, a current ratio of 2.57 and a debt-to-equity ratio of 0.89. The company’s 50 day moving average is C$29.46 and its two-hundred day moving average is C$26.50.

Paramount Resources (TSE:POU) last released its earnings results on Tuesday, May 12th. The company reported C$0.36 earnings per share (EPS) for the quarter. The company had revenue of C$276.20 million for the quarter. Paramount Resources had a net margin of 5.90% and a return on equity of 1.96%. On average, research analysts expect that Paramount Resources will post 1.4075758 EPS for the current fiscal year.

Paramount Resources Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 29th will be issued a $0.05 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, May 15th. Paramount Resources’s dividend payout ratio (DPR) is presently 150.00%.

About Paramount Resources

Paramount is an independent, publicly traded Canadian energy company that explores for and develops both conventional and unconventional petroleum and natural gas, including longer-term strategic exploration and pre-development plays. The Company’s principal properties are located in Alberta and British Columbia. Paramount’s class A common shares are listed on the Toronto Stock Exchange under the symbol “POU”.