Paramount Resources (TSE:POU) Posts Quarterly Earnings Results

Paramount Resources (TSE:POU) released its earnings results on Thursday. The company reported C($2.65) earnings per share for the quarter, FiscalAI reports. Paramount Resources had a negative return on equity of 10.12% and a negative net margin of 22.36%. The firm had revenue of C$257.10 million for the quarter.

Paramount Resources Stock Down 1.7%

Shares of TSE:POU traded down C$0.54 during midday trading on Friday, reaching C$31.29. 1,030,389 shares of the company were exchanged, compared to its average volume of 282,593. Paramount Resources has a fifty-two week low of C$21.69 and a fifty-two week high of C$35.32. The company has a quick ratio of 0.68, a current ratio of 1.30 and a debt-to-equity ratio of 1.01. The stock has a fifty day simple moving average of C$32.18 and a two-hundred day simple moving average of C$29.69. The firm has a market cap of C$4.57 billion, a PE ratio of -16.82, a P/E/G ratio of 0.14 and a beta of -0.07.

Paramount Resources Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 30th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $0.60 annualized dividend and a dividend yield of 1.9%. Paramount Resources’s dividend payout ratio is currently -32.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on POU shares. ATB Cormark Capital Markets increased their price target on Paramount Resources from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. BMO Capital Markets increased their price target on Paramount Resources from C$35.00 to C$37.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Royal Bank Of Canada boosted their price target on shares of Paramount Resources from C$35.00 to C$37.00 and gave the company a “sector perform” rating in a report on Friday, August 7th. Finally, Scotia upped their price objective on shares of Paramount Resources from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a research report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Paramount Resources currently has a consensus rating of “Moderate Buy” and an average price target of C$34.35.

Paramount Resources Company Profile

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”.