Paramount Resources (TSE:POU) Hits New 1-Year High – Should You Buy?

Shares of Paramount Resources Ltd. (TSE:POU) hit a new 52-week high during mid-day trading on Monday. The stock traded as high as C$34.72 and last traded at C$34.72, with a volume of 163,355 shares traded. The stock had previously closed at C$34.39.

Wall Street Analyst Weigh In

POU has been the subject of a number of research reports. Royal Bank Of Canada increased their price target on Paramount Resources from C$35.00 to C$37.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. ATB Cormark Capital Markets lifted their price objective on Paramount Resources from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Scotiabank raised Paramount Resources to a “hold” rating in a research note on Friday, June 26th. Scotia upped their price objective on Paramount Resources from C$34.00 to C$36.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. Finally, BMO Capital Markets increased their target price on Paramount Resources from C$35.00 to C$37.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Paramount Resources currently has an average rating of “Moderate Buy” and an average target price of C$34.35.

Paramount Resources Stock Down 1.1%

The business’s 50 day simple moving average is C$31.72 and its 200 day simple moving average is C$30.15. The company has a current ratio of 1.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of C$4.98 billion, a PE ratio of 43.78, a PEG ratio of 0.14 and a beta of -0.16.

Paramount Resources (TSE:POU) last announced its earnings results on Thursday, August 6th. The company reported C$0.47 earnings per share (EPS) for the quarter. Paramount Resources had a net margin of 11.19% and a return on equity of 4.30%. The firm had revenue of C$317.90 million for the quarter. On average, equities research analysts forecast that Paramount Resources Ltd. will post 1.41 earnings per share for the current year.

Paramount Resources Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 30th will be paid a dividend of $0.05 per share. This represents a $0.60 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, October 15th. Paramount Resources’s payout ratio is presently 76.92%.

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”.