Paramount Resources (TSE:POU) Price Target Raised to C$40.00 at BMO Capital Markets

Paramount Resources (TSE:POU) had its price objective boosted by BMO Capital Markets from C$38.50 to C$40.00 in a report published on Wednesday morning, BayStreet.CA reports.

Several other brokerages have also commented on POU. Cormark lowered shares of Paramount Resources from a buy rating to a market perform rating and decreased their price objective for the company from C$40.00 to C$37.50 in a research report on Thursday, March 7th. CIBC increased their price objective on shares of Paramount Resources from C$35.00 to C$37.00 and gave the company a neutral rating in a research report on Friday, May 3rd. ATB Capital decreased their price objective on shares of Paramount Resources from C$37.00 to C$36.00 and set an outperform rating for the company in a research report on Thursday, March 7th. Stifel Nicolaus increased their price objective on shares of Paramount Resources from C$36.00 to C$37.00 and gave the company a buy rating in a research report on Friday, May 3rd. Finally, National Bankshares raised their price target on shares of Paramount Resources from C$37.50 to C$40.00 and gave the stock an outperform rating in a research report on Friday, April 19th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of C$35.95.

Paramount Resources Stock Performance

POU stock opened at C$31.62 on Wednesday. The firm has a market cap of C$4.62 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 0.14 and a beta of 3.19. The firm has a 50-day simple moving average of C$31.71 and a two-hundred day simple moving average of C$28.81. Paramount Resources has a one year low of C$24.59 and a one year high of C$33.80. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.68 and a current ratio of 0.67.

Paramount Resources (TSE:POU) last released its quarterly earnings results on Thursday, May 2nd. The company reported C$0.46 EPS for the quarter, missing the consensus estimate of C$0.59 by C($0.13). The firm had revenue of C$452.30 million for the quarter, compared to analysts’ expectations of C$415.00 million. Paramount Resources had a net margin of 19.97% and a return on equity of 9.92%. On average, equities analysts forecast that Paramount Resources will post 1.8292264 EPS for the current fiscal year.

Paramount Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, June 17th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.69%. Paramount Resources’s payout ratio is 78.26%.

Insider Transactions at Paramount Resources

In other news, Senior Officer John B. Williams sold 2,532 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of C$31.83, for a total transaction of C$80,593.56. In other news, Senior Officer John B. Williams sold 2,532 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of C$31.83, for a total transaction of C$80,593.56. Also, Senior Officer Bernard K. Lee sold 5,000 shares of Paramount Resources stock in a transaction on Thursday, June 20th. The shares were sold at an average price of C$30.94, for a total transaction of C$154,721.00. Insiders have sold 120,327 shares of company stock valued at $3,791,305 in the last 90 days. 45.57% of the stock is currently owned by company insiders.

About Paramount Resources

Paramount Resources Ltd. explores for and develops conventional and unconventional petroleum and natural gas reserves and resources in Canada. The company holds interests in the Karr and Wapiti Montney properties covering an area of 109,000 net acres located south of the city of Grande Prairie, Alberta; Kaybob North Duvernay development and natural gas producing properties covering an area of 124,000 net acres located in west-central Alberta; and Willesden Green Duvernay development in central Alberta and shale gas producing properties in the Horn River Basin in northeast British Columbia covering an area of 249,000 net acres.