Paramount Resources (TSE:POU) Price Target Raised to C$37.00 at ATB Cormark Capital Markets

Paramount Resources (TSE:POU) had its price objective hoisted by ATB Cormark Capital Markets from C$35.00 to C$37.00 in a research note released on Friday,BayStreet.CA reports. ATB Cormark Capital Markets currently has an outperform rating on the stock.

A number of other equities analysts have also recently commented on the stock. Scotiabank raised shares of Paramount Resources to a “hold” rating in a research note on Friday, June 26th. Raymond James Financial increased 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. National Bank Financial lifted their price target on Paramount Resources from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 13th. Finally, Royal Bank Of Canada boosted their price objective on Paramount Resources from C$32.00 to C$35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$34.35.

Paramount Resources Stock Down 2.1%

Shares of POU opened at C$30.10 on Friday. The stock has a market capitalization of C$4.39 billion, a price-to-earnings ratio of 75.25, 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 business’s 50 day simple moving average is C$28.98 and its 200-day simple moving average is C$28.47. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.57 and a quick ratio of 0.68.

Paramount Resources (TSE:POU) last posted its earnings results on Thursday, August 6th. The company reported C$0.47 earnings per share for the quarter. Paramount Resources had a net margin of 5.90% and a return on equity of 1.96%. The firm had revenue of C$317.90 million during the quarter. As a group, equities analysts expect that Paramount Resources will post 1.4075758 earnings per share for the current fiscal year.

Paramount Resources Dividend Announcement

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

Insider Transactions at Paramount Resources

In related news, insider Joerg Wittenberg sold 3,900 shares of Paramount Resources stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of C$33.28, for a total transaction of C$129,792.00. Following the completion of the transaction, the insider directly owned 54,321 shares of the company’s stock, valued at approximately C$1,807,802.88. The trade was a 6.70% decrease in their position. Also, Director Dirk Jungé sold 8,850 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of C$30.97, for a total transaction of C$274,084.50. Following the transaction, the director owned 57,915 shares in the company, valued at C$1,793,627.55. The trade was a 13.26% decrease in their ownership of the stock. In the last ninety days, insiders have purchased 10,148 shares of company stock worth $308,401 and have sold 44,800 shares worth $1,388,875. Insiders own 45.36% of the company’s stock.

Paramount Resources News Summary

Here are the key news stories impacting Paramount Resources this week:

• Positive Sentiment: Analysts raised price targets: Scotia increased its target to C$36 from C$34 while maintaining a “sector perform” rating. BMO Capital Markets and ATB Cormark raised their targets to C$37 from C$35 and kept “outperform” ratings. Royal Bank of Canada also lifted its target to C$37 but retained a “sector perform” view. The revised targets imply approximately 19.5% to 22.8% upside from the referenced C$30.13 price. BayStreet analyst ratings
• Positive Sentiment: Monthly dividend announced: Paramount declared a C$0.05-per-share monthly dividend, payable August 31 to shareholders of record August 31. The dividend equates to an annualized payout of approximately C$0.60 per share and a reported 2.0% yield. The ex-dividend date is August 17.
• Neutral Sentiment: Analyst consensus remains favorable: Paramount received an average analyst recommendation of “Moderate Buy,” suggesting broad support but not an overwhelmingly bullish consensus. Paramount Resources analyst recommendation
• Neutral Sentiment: Quarterly results reported: Paramount posted earnings of C$0.47 per share on revenue of C$317.90 million. Net margin was 5.90% and return on equity was 1.96%. The results confirm continued profitability, although the reported figures alone do not indicate whether the company exceeded market expectations. Paramount Resources quarterly results

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”.