Paramount Resources (TSE:POU) Price Target Raised to C$35.00

Paramount Resources (TSE:POU) had its target price increased by Royal Bank Of Canada from C$32.00 to C$35.00 in a report published on Wednesday,BayStreet.CA reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

A number of other equities analysts also recently commented on the company. Raymond James Financial raised their price objective on Paramount Resources from C$29.00 to C$31.00 and gave the stock an “outperform” rating in a report on Wednesday, March 4th. ATB Cormark Capital Markets raised their price objective on Paramount Resources from C$28.00 to C$33.00 and gave the stock an “outperform” rating in a report on Wednesday, March 4th. BMO Capital Markets raised their price objective on Paramount Resources from C$24.00 to C$32.00 and gave the stock an “outperform” rating in a report on Wednesday, March 4th. Jefferies Financial Group cut their price objective on Paramount Resources from C$29.00 to C$28.00 in a report on Tuesday, January 20th. Finally, National Bank Financial raised their price objective on Paramount Resources from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a report on Wednesday. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$32.94.

Paramount Resources Stock Performance

Paramount Resources stock opened at C$32.06 on Wednesday. The stock’s 50-day moving average is C$29.12 and its 200-day moving average is C$26.13. The company has a market cap of C$4.66 billion, a price-to-earnings ratio of 80.15, a price-to-earnings-growth ratio of 0.14 and a beta of -0.03. 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 12 month low of C$18.61 and a 12 month high of C$32.06.

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

Paramount Resources Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 29th will be issued a dividend of $0.05 per share. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, May 15th. Paramount Resources’s dividend payout ratio (DPR) is presently 150.00%.

Insider Buying and Selling

In related news, insider John B. Williams sold 6,800 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of C$30.45, for a total transaction of C$207,060.00. Following the sale, the insider directly owned 171,285 shares in the company, valued at approximately C$5,215,628.25. This trade represents a 3.82% decrease in their position. Also, insider Rodrigo Sousa acquired 6,946 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were acquired at an average price of C$30.50 per share, for a total transaction of C$211,853.00. Following the completion of the acquisition, the insider directly owned 25,100 shares in the company, valued at C$765,550. The trade was a 38.26% increase in their ownership of the stock. In the last 90 days, insiders have acquired 9,688 shares of company stock valued at $295,917 and have sold 48,000 shares valued at $1,475,440. 45.36% of the stock is currently owned by company insiders.

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”.