Paramount Resources (TSE:POU) Sets New 52-Week High – Should You Buy?

Paramount Resources Ltd. (TSE:POU)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$33.32 and last traded at C$33.23, with a volume of 392426 shares changing hands. The stock had previously closed at C$32.06.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on POU shares. Scotiabank lifted their price objective on shares of Paramount Resources from C$29.00 to C$31.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Canadian Imperial Bank of Commerce lifted their price objective on shares of Paramount Resources from C$25.50 to C$30.50 in a research report on Wednesday, March 4th. Royal Bank Of Canada lifted their price objective on shares of Paramount Resources from C$32.00 to C$35.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 13th. Roth Mkm set a C$33.00 price objective on shares of Paramount Resources and gave the company a “buy” rating in a research report on Wednesday, March 4th. Finally, Jefferies Financial Group cut their target price on shares of Paramount Resources from C$29.00 to C$28.00 in a report on Tuesday, January 20th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Paramount Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of C$32.94.

Paramount Resources Stock Performance

The business’s fifty day moving average is C$29.25 and its two-hundred day moving average is C$26.29. 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 stock has a market capitalization of C$4.83 billion, a PE ratio of 83.08, a price-to-earnings-growth ratio of 0.14 and a beta of -0.03.

Paramount Resources (TSE:POU) last posted its earnings results on Tuesday, May 12th. The company reported C$0.36 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$276.20 million during the quarter. As a group, research analysts anticipate that Paramount Resources Ltd. will post 1.4075758 EPS for the current fiscal year.

Paramount Resources Dividend Announcement

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

Insider Buying and Selling at Paramount Resources

In other Paramount Resources news, insider John B. Williams sold 6,800 shares of Paramount Resources stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of C$30.45, for a total transaction of C$207,060.00. Following the completion of the transaction, the insider directly owned 171,285 shares of the company’s stock, valued at C$5,215,628.25. The trade was a 3.82% decrease in their ownership of the stock. Also, insider Tyson Riddell sold 5,000 shares of Paramount Resources stock in a transaction on Thursday, May 14th. The stock was sold at an average price of C$31.36, for a total transaction of C$156,800.00. Following the transaction, the insider directly owned 14,458 shares of the company’s stock, valued at C$453,402.88. The trade was a 25.70% decrease in their ownership of the stock. In the last ninety days, insiders bought 9,688 shares of company stock valued at $295,917 and sold 48,000 shares valued at $1,475,440. 45.36% of the stock is owned by corporate insiders.

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”.