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

Shares of Paramount Resources Ltd. (TSE:POU) hit a new 52-week high during mid-day trading on Tuesday. The stock traded as high as C$33.48 and last traded at C$33.37, with a volume of 84,215 shares. The stock had previously closed at C$32.10.

Analyst Upgrades and Downgrades

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

Paramount Resources Stock Performance

The company has a market cap of C$4.89 billion, a PE ratio of 42.97, a PEG ratio of 0.14 and a beta of -0.16. The business’s 50-day moving average is C$31.26 and its 200 day moving average is C$29.96. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.68 and a current ratio of 1.87.

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

Paramount Resources Dividend Announcement

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

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”.