Royal Bank Of Canada Issues Positive Forecast for Paramount Resources (TSE:POU) Stock Price

Paramount Resources (TSE:POU) had its target price upped by Royal Bank Of Canada from C$35.00 to C$37.00 in a report published on Friday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

A number of other research firms also recently commented on POU. Scotiabank raised shares of Paramount Resources to a “hold” rating in a report on Friday, June 26th. BMO Capital Markets increased their target price on shares of Paramount Resources from C$35.00 to C$37.00 and gave the company an “outperform” rating in a report on Friday. Scotia lifted their price target on shares of Paramount Resources from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a research report on Friday. Raymond James Financial boosted their price target on Paramount Resources from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Finally, ATB Cormark Capital Markets upped their price target on Paramount Resources from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a report on Friday. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$34.35.

Paramount Resources Trading Down 2.1%

TSE:POU opened at C$30.10 on Friday. Paramount Resources has a 1 year low of C$19.37 and a 1 year high of C$33.44. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 2.57. The stock has a fifty day moving average price of C$28.98 and a two-hundred day moving average price of C$28.47. The stock has a market capitalization of C$4.39 billion, a price-to-earnings ratio of 75.25, a PEG ratio of 0.14 and a beta of -0.25.

Paramount Resources (TSE:POU) last issued its earnings results on Thursday, August 6th. The company reported C$0.47 EPS for the quarter. The company had revenue of C$317.90 million for the quarter. Paramount Resources had a net margin of 5.90% and a return on equity of 1.96%. As a group, sell-side analysts anticipate that Paramount Resources will post 1.4075758 earnings per share for the current fiscal year.

Paramount Resources Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 31st will be issued a $0.05 dividend. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, August 17th. Paramount Resources’s dividend payout ratio is 150.00%.

Insiders Place Their Bets

In other news, insider Joerg Wittenberg sold 3,900 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of C$33.28, for a total value of C$129,792.00. Following the sale, the insider directly owned 54,321 shares in the company, valued at C$1,807,802.88. This represents a 6.70% decrease in their ownership of the stock. Also, insider David Blake Reid sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of C$30.90, for a total transaction of C$772,500.00. Following the transaction, the insider directly owned 172,313 shares of the company’s stock, valued at approximately C$5,324,471.70. This trade represents a 12.67% decrease in their ownership of the stock. Over the last ninety days, insiders acquired 10,148 shares of company stock valued at $308,401 and sold 44,800 shares valued at $1,388,875. Company insiders own 45.36% of the company’s stock.

Key Headlines Impacting Paramount Resources

Here are the key news stories impacting Paramount Resources this week:

• Positive Sentiment: Analysts raised price targets: Scotia increased its target to C$36 from C$34 while maintaining a “sector perform” rating. BMO Capital Markets and ATB Cormark raised their targets to C$37 from C$35 and kept “outperform” ratings. Royal Bank of Canada also lifted its target to C$37 but retained a “sector perform” view. The revised targets imply approximately 19.5% to 22.8% upside from the referenced C$30.13 price. BayStreet analyst ratings
• Positive Sentiment: Monthly dividend announced: Paramount declared a C$0.05-per-share monthly dividend, payable August 31 to shareholders of record August 31. The dividend equates to an annualized payout of approximately C$0.60 per share and a reported 2.0% yield. The ex-dividend date is August 17.
• Neutral Sentiment: Analyst consensus remains favorable: Paramount received an average analyst recommendation of “Moderate Buy,” suggesting broad support but not an overwhelmingly bullish consensus. Paramount Resources analyst recommendation
• Neutral Sentiment: Quarterly results reported: Paramount posted earnings of C$0.47 per share on revenue of C$317.90 million. Net margin was 5.90% and return on equity was 1.96%. The results confirm continued profitability, although the reported figures alone do not indicate whether the company exceeded market expectations. Paramount Resources quarterly results

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”.