Paramount Resources Ltd. (TSE:POU) Stock Has Consensus Price Target of C$35.45

Paramount Resources Ltd. (TSE:POU) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is C$35.45.

POU has been the topic of several research analyst reports. BMO Capital Markets raised 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 research note on Friday, August 7th. ATB Cormark Capital Markets upped their price target on shares of Paramount Resources from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Scotiabank upgraded shares of Paramount Resources from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from C$40.00 to C$42.00 in a research note on Monday. Royal Bank Of Canada boosted their target price on Paramount Resources from C$35.00 to C$37.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. Finally, Scotia increased their price target on Paramount Resources from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th.

Paramount Resources Stock Performance

POU traded down C$0.50 during trading hours on Monday, hitting C$30.79. The company’s stock had a trading volume of 458,172 shares, compared to its average volume of 283,041. The company has a 50-day simple moving average of C$32.18 and a 200 day simple moving average of C$29.69. The company has a current ratio of 1.30, a quick ratio of 0.68 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of C$4.49 billion, a PE ratio of -16.55, a PEG ratio of 0.14 and a beta of -0.07. Paramount Resources has a fifty-two week low of C$21.69 and a fifty-two week high of C$35.32.

Paramount Resources (TSE:POU) last released its quarterly earnings results on Thursday, November 5th. The company reported C($2.65) earnings per share (EPS) for the quarter. The business had revenue of C$257.10 million during the quarter. Paramount Resources had a negative return on equity of 10.12% and a negative net margin of 22.36%. As a group, sell-side analysts expect that Paramount Resources will post 1.41 EPS for the current year.

Paramount Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 30th will be issued a $0.05 dividend. The ex-dividend date is Monday, November 16th. This represents a $0.60 annualized dividend and a dividend yield of 1.9%. Paramount Resources’s dividend payout ratio is -32.26%.

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”.