Brokerages Set Paramount Resources Ltd. (TSE:POU) Target Price at C$32.94

Shares of Paramount Resources Ltd. (TSE:POU) have earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is C$32.94.

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets increased their price objective on shares of Paramount Resources from C$24.00 to C$32.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 4th. Canadian Imperial Bank of Commerce raised their price target on shares of Paramount Resources from C$25.50 to C$30.50 in a research report on Wednesday, March 4th. ATB Cormark Capital Markets raised their price target on shares of Paramount Resources from C$28.00 to C$33.00 and gave the company an “outperform” rating in a research report on Wednesday, March 4th. Royal Bank Of Canada raised their price target 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. Finally, Raymond James Financial raised their price target on shares of Paramount Resources from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th.

Insiders Place Their Bets

In related news, insider David Blake Reid sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of C$30.90, for a total value of C$772,500.00. Following the transaction, the insider owned 172,313 shares of the company’s stock, valued at approximately C$5,324,471.70. This trade represents a 12.67% decrease in their position. Also, insider Tyson Riddell sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of C$31.36, for a total transaction of C$156,800.00. Following the completion of the transaction, the insider directly owned 14,458 shares in the company, valued at approximately C$453,402.88. The trade was a 25.70% decrease in their position. In the last 90 days, insiders have purchased 9,688 shares of company stock worth $295,917 and have sold 60,750 shares worth $1,879,317. 45.36% of the stock is owned by insiders.

Paramount Resources Price Performance

POU stock opened at C$28.37 on Friday. The stock has a market capitalization of C$4.12 billion, a PE ratio of 70.93, a price-to-earnings-growth ratio of 0.14 and a beta of -0.28. The company’s 50-day moving average is C$29.79 and its 200-day moving average is C$27.32. 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 1 year low of C$19.37 and a 1 year high of C$33.44.

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

Paramount Resources Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a yield of 2.1%. Paramount Resources’s dividend payout ratio (DPR) is presently 150.00%.

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”.