Paramount Resources Ltd. (TSE:POU) Receives C$32.94 Average Target Price from Brokerages

Shares of Paramount Resources Ltd. (TSE:POU) have been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is C$32.94.

POU has been the subject of a number of recent analyst reports. Canadian Imperial Bank of Commerce upped their price target on shares of Paramount Resources from C$25.50 to C$30.50 in a report on Wednesday, March 4th. National Bank Financial increased their price objective on Paramount Resources from C$36.00 to C$38.00 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 Paramount Resources and gave the company a “buy” rating in a research report on Wednesday, March 4th. BMO Capital Markets increased their price objective on Paramount Resources from C$24.00 to C$32.00 and gave the company an “outperform” rating in a research report on Wednesday, March 4th. Finally, Royal Bank Of Canada increased their price objective on 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.

Paramount Resources Stock Down 2.2%

POU stock opened at C$27.59 on Friday. 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 has a 52-week low of C$19.37 and a 52-week high of C$33.44. The company has a 50-day moving average of C$29.76 and a two-hundred day moving average of C$27.38. The stock has a market capitalization of C$4.01 billion, a price-to-earnings ratio of 68.98, a price-to-earnings-growth ratio of 0.14 and a beta of -0.28.

Paramount Resources (TSE:POU) last released its quarterly earnings results on Tuesday, May 12th. The company reported C$0.36 earnings per share (EPS) for the quarter. Paramount Resources had a net margin of 5.90% and a return on equity of 1.96%. The company had revenue of C$276.20 million during the quarter. As a group, equities research analysts anticipate that Paramount Resources will post 1.4075758 EPS for the current year.

Paramount Resources Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be paid a $0.05 dividend. This represents a c) annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Monday, June 15th. Paramount Resources’s dividend payout ratio (DPR) is presently 150.00%.

Insider Transactions at Paramount Resources

In other Paramount Resources news, Director Dirk Jungé sold 8,850 shares of the company’s 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 transaction, the director owned 57,915 shares of the company’s stock, valued at C$1,793,627.55. This represents a 13.26% decrease in their position. Also, insider Rodrigo Sousa purchased 6,946 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was purchased at an average cost of C$30.50 per share, with a total value of C$211,853.00. Following the acquisition, the insider owned 25,100 shares in the company, valued at approximately C$765,550. This represents a 38.26% increase in their ownership of the stock. Over the last 90 days, insiders have acquired 9,688 shares of company stock worth $295,917 and have sold 54,750 shares worth $1,698,837. Insiders own 45.36% of the company’s stock.

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”.