Paramount Resources Ltd. (TSE:POU) Receives Consensus Rating of “Moderate Buy” from Analysts

Paramount Resources Ltd. (TSE:POU) has been given an average recommendation of “Moderate Buy” by the ten brokerages that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is C$37.45.

A number of brokerages have weighed in on POU. CIBC boosted their target price on shares of Paramount Resources from C$37.00 to C$38.00 in a research note on Monday, July 15th. Royal Bank of Canada boosted their target price on shares of Paramount Resources from C$34.00 to C$36.00 and gave the stock a “sector perform” rating in a research note on Friday, May 3rd. Stifel Nicolaus boosted their target price on shares of Paramount Resources from C$36.00 to C$37.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Scotiabank boosted their target price on shares of Paramount Resources from C$42.00 to C$43.00 in a research note on Friday, July 12th. Finally, BMO Capital Markets boosted their target price on shares of Paramount Resources from C$38.50 to C$40.00 in a research note on Wednesday, July 3rd.

Paramount Resources Price Performance

TSE:POU opened at C$27.64 on Thursday. The firm has a market cap of C$4.05 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 0.14 and a beta of 3.08. Paramount Resources has a 12 month low of C$24.59 and a 12 month high of C$33.80. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 0.83. The company’s 50-day moving average price is C$29.64 and its two-hundred day moving average price is C$29.72.

Paramount Resources (TSE:POU) last released its quarterly earnings results on Thursday, August 1st. The company reported C$0.57 EPS for the quarter. The firm had revenue of C$443.60 million for the quarter, compared to analyst estimates of C$468.00 million. Paramount Resources had a net margin of 19.66% and a return on equity of 10.03%. On average, equities analysts anticipate that Paramount Resources will post 1.4308081 EPS for the current fiscal year.

Paramount Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be issued a dividend of $0.15 per share. This represents a $1.80 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date is Thursday, August 15th. Paramount Resources’s dividend payout ratio is currently 76.27%.

Insider Activity at Paramount Resources

In related news, Senior Officer Bernard K. Lee sold 5,000 shares of the business’s stock in a transaction that occurred 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. In other news, Senior Officer John B. Williams sold 11,929 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$31.00, for a total value of C$369,799.00. Also, Senior Officer Bernard K. Lee sold 5,000 shares of the company’s stock in a transaction that occurred 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. Over the last 90 days, insiders sold 38,929 shares of company stock worth $1,242,600. 45.36% of the stock is currently owned by company insiders.

Paramount Resources Company Profile

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.