Paramount Resources Ltd. (TSE:POU) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Paramount Resources Ltd. (TSE:POU) have been given an average rating of “Moderate Buy” by the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is C$34.35.

POU has been the topic of several research analyst reports. ATB Cormark Capital Markets raised their target price on shares of 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. National Bank Financial increased their price target on shares of Paramount Resources from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 13th. BMO Capital Markets lifted their price target on shares of Paramount Resources from C$35.00 to C$37.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Scotia boosted 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 note on Friday, August 7th. Finally, Raymond James Financial boosted their price objective on shares of Paramount Resources from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th.

Paramount Resources Stock Down 2.7%

Shares of TSE:POU opened at C$31.49 on Wednesday. The stock’s 50-day moving average price is C$29.42 and its two-hundred day moving average price is C$29.10. The company has a current ratio of 1.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.90. Paramount Resources has a 12-month low of C$19.92 and a 12-month high of C$33.44. The firm has a market cap of C$4.59 billion, a price-to-earnings ratio of 40.37, a PEG ratio of 0.14 and a beta of -0.25.

Paramount Resources (TSE:POU) last posted its quarterly earnings data on Thursday, August 6th. The company reported C$0.47 EPS for the quarter. Paramount Resources had a net margin of 11.19% and a return on equity of 4.30%. The company had revenue of C$317.90 million during the quarter. On average, research analysts forecast that Paramount Resources will post 1.4075758 EPS for the current year.

Paramount Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 31st will be issued a $0.05 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, August 17th. Paramount Resources’s dividend payout ratio (DPR) is 76.92%.

Insider Activity

In other Paramount Resources news, Director Dirk Jungé sold 8,850 shares of Paramount Resources stock in a transaction that occurred on 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 directly owned 57,915 shares of the company’s stock, valued at C$1,793,627.55. The trade was a 13.26% decrease in their ownership of the stock. Also, Director James Geral Bell sold 2,050 shares of Paramount Resources stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of C$27.17, for a total transaction of C$55,698.50. Insiders own 45.36% of the company’s stock.

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”.