Paramount Resources (TSE:POU) Releases Earnings Results

Paramount Resources (TSE:POU) posted its quarterly earnings results on Thursday. The company reported C$0.47 EPS for the quarter, FiscalAI reports. The business had revenue of C$317.90 million during the quarter. Paramount Resources had a return on equity of 1.96% and a net margin of 5.90%.

Paramount Resources Price Performance

POU stock traded up C$2.68 on Thursday, reaching C$30.74. The company had a trading volume of 582,761 shares, compared to its average volume of 282,839. The company’s fifty day moving average is C$28.97 and its 200 day moving average is C$28.41. The company has a market cap of C$4.47 billion, a P/E ratio of 76.85, a PEG ratio of 0.14 and a beta of -0.25. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 2.57. Paramount Resources has a 1 year low of C$19.37 and a 1 year high of C$33.44.

Paramount Resources Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 31st will be given a dividend of $0.05 per share. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, August 17th. Paramount Resources’s payout ratio is currently 150.00%.

Insider Activity at Paramount Resources

In related news, insider Rodrigo Sousa acquired 6,946 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average price of C$30.50 per share, with a total value of C$211,853.00. Following the completion of the purchase, the insider directly owned 25,100 shares in the company, valued at approximately C$765,550. The trade was a 38.26% increase in their ownership of the stock. Also, Director Dirk Jungé sold 8,850 shares of Paramount Resources stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of C$30.97, for a total value of C$274,084.50. Following the sale, the director owned 57,915 shares of the company’s stock, valued at approximately C$1,793,627.55. This represents a 13.26% decrease in their position. In the last ninety days, insiders have bought 10,148 shares of company stock valued at $308,401 and have sold 44,800 shares valued at $1,388,875. 45.36% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

POU has been the topic of a number of recent analyst reports. Royal Bank Of Canada upped their price objective on Paramount Resources from C$32.00 to C$35.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 13th. Scotiabank upgraded shares of Paramount Resources to a “hold” rating in a research report on Friday, June 26th. Raymond James Financial raised their price objective on Paramount Resources from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, National Bank Financial lifted 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, May 13th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$32.94.

About Paramount Resources

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”.