Paramount Resources (TSE:POU) Announces Earnings Results

Paramount Resources (TSE:POU) issued its earnings results on Thursday. The company reported C$0.47 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of C$317.90 million for the quarter. Paramount Resources had a net margin of 5.90% and a return on equity of 1.96%.

Paramount Resources Trading Up 8.9%

TSE POU opened at C$30.55 on Friday. The firm has a market cap of C$4.44 billion, a PE ratio of 76.38, a price-to-earnings-growth ratio of 0.14 and a beta of -0.25. Paramount Resources has a 1-year low of C$19.37 and a 1-year high of C$33.44. The stock has a 50-day moving average of C$28.98 and a 200-day moving average of C$28.46. The company has a current ratio of 2.57, a quick ratio of 0.68 and a debt-to-equity ratio of 0.89.

Paramount Resources Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 31st will be issued a $0.05 dividend. The ex-dividend date is Monday, August 17th. This represents a c) annualized dividend and a dividend yield of 2.0%. Paramount Resources’s payout ratio is currently 150.00%.

Insider Transactions at Paramount Resources

In related news, insider David Blake Reid sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of C$30.90, for a total value of C$772,500.00. Following the sale, the insider directly owned 172,313 shares of the company’s stock, valued at C$5,324,471.70. This trade represents a 12.67% decrease in their ownership of the stock. Also, Director Dirk Jungé sold 8,850 shares of Paramount Resources stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of C$30.97, for a total value of C$274,084.50. Following the completion of the sale, the director owned 57,915 shares in the company, valued at approximately C$1,793,627.55. This represents a 13.26% decrease in their ownership of the stock. In the last ninety days, insiders have purchased 10,148 shares of company stock valued at $308,401 and have sold 44,800 shares valued at $1,388,875. Company insiders own 45.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on POU. Royal Bank Of Canada increased their price target on shares of Paramount Resources from C$32.00 to C$35.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 13th. National Bank Financial upped their target price on shares of Paramount Resources from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 13th. Raymond James Financial raised their price target 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. Finally, Scotiabank upgraded Paramount Resources to a “hold” rating in a research report on Friday, June 26th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Paramount Resources presently has a consensus rating of “Moderate Buy” and an average target price of C$32.94.

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”.