Brokerages Set Paramount Resources Ltd. (TSE:POU) Price Target at C$38.67

Paramount Resources Ltd. (TSE:POU) has earned a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is C$38.67.

Several equities analysts recently commented on the stock. Royal Bank of Canada increased their price objective on shares of Paramount Resources from C$34.00 to C$37.00 in a research report on Friday, November 15th. Scotiabank increased their price target on shares of Paramount Resources from C$44.00 to C$46.00 in a report on Friday, January 17th. CIBC raised their price objective on shares of Paramount Resources from C$38.00 to C$39.50 in a research note on Friday, November 15th. Jefferies Financial Group dropped their price objective on shares of Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Cormark upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th.

Paramount Resources Trading Down 0.5 %

TSE POU opened at C$28.79 on Friday. The company’s 50-day moving average price is C$30.70 and its 200-day moving average price is C$28.85. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83. The stock has a market cap of C$4.22 billion, a PE ratio of 12.20, a PEG ratio of 0.14 and a beta of 3.04. Paramount Resources has a 12 month low of C$24.51 and a 12 month high of C$33.06.

Paramount Resources (TSE:POU) last released its quarterly earnings results on Thursday, November 7th. The company reported C$0.64 EPS for the quarter, missing the consensus estimate of C$0.92 by C($0.28). Paramount Resources had a net margin of 19.66% and a return on equity of 10.03%. Equities research analysts forecast that Paramount Resources will post 1.4075758 earnings per share for the current year.

Paramount Resources Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 31st will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.80 annualized dividend and a dividend yield of 6.25%. Paramount Resources’s dividend payout ratio is presently 76.27%.

Insider Transactions at Paramount Resources

In related news, Senior Officer Garth W.J. Stotts sold 12,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of C$31.02, for a total transaction of C$372,183.60. Also, Senior Officer Michael S. Han sold 8,320 shares of Paramount Resources stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of C$30.86, for a total value of C$256,788.48. In the last quarter, insiders have purchased 103,248 shares of company stock worth $3,231,616 and have sold 88,320 shares worth $2,730,172. Insiders own 45.36% of the company’s stock.

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.