BMO Capital Markets Raises Paramount Resources (TSE:POU) Price Target to C$38.50

Paramount Resources (TSE:POU) had its price target raised by BMO Capital Markets from C$37.00 to C$38.50 in a research report report published on Friday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other analysts have also issued reports on POU. Royal Bank of Canada lowered their price target on shares of Paramount Resources from C$33.00 to C$32.00 and set a sector perform rating on the stock in a research report on Thursday, March 7th. Raymond James reduced their target price on Paramount Resources from C$40.00 to C$36.00 and set an outperform rating for the company in a report on Friday, January 19th. Scotiabank lowered their price target on shares of Paramount Resources from C$30.00 to C$29.00 and set an outperform rating on the stock in a report on Thursday, March 7th. Jefferies Financial Group reduced their price objective on shares of Paramount Resources from C$33.00 to C$31.00 in a research note on Thursday, March 7th. Finally, CIBC increased their target price on shares of Paramount Resources from C$30.00 to C$35.00 and gave the stock a neutral rating in a research note on Monday, April 22nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of C$35.80.

Paramount Resources Trading Up 0.2 %

Shares of POU stock opened at C$32.05 on Friday. The company has a market capitalization of C$4.63 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.14 and a beta of 3.23. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.71. The company has a 50-day simple moving average of C$28.80 and a two-hundred day simple moving average of C$27.90. Paramount Resources has a 52-week low of C$24.59 and a 52-week high of C$33.80.

Paramount Resources (TSE:POU) last posted its quarterly earnings data on Wednesday, March 6th. The company reported C$0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.95 by C($0.20). Paramount Resources had a return on equity of 13.67% and a net margin of 26.13%. The company had revenue of C$470.50 million for the quarter, compared to analysts’ expectations of C$436.00 million. Research analysts anticipate that Paramount Resources will post 2.3708207 EPS for the current fiscal year.

Paramount Resources Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 31st will be given a $0.15 dividend. The ex-dividend date is Tuesday, May 14th. This is a positive change from Paramount Resources’s previous monthly dividend of $0.13. This represents a $1.80 annualized dividend and a yield of 5.62%. Paramount Resources’s payout ratio is 47.32%.

Insider Buying and Selling at Paramount Resources

In other news, Senior Officer Michael S. Han sold 30,040 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of C$28.00, for a total value of C$841,120.00. In related news, Senior Officer John B. Williams sold 8,000 shares of Paramount Resources stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of C$29.60, for a total value of C$236,800.00. Also, Senior Officer Michael S. Han sold 30,040 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of C$28.00, for a total transaction of C$841,120.00. Insiders have sold 69,655 shares of company stock worth $2,021,257 over the last 90 days. Corporate insiders own 45.75% 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.