Paramount Resources Ltd. (TSE:POU) Receives C$31.22 Average Target Price from Brokerages

Shares of Paramount Resources Ltd. (TSE:POU) have received a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is C$31.22.

POU has been the topic of a number of analyst reports. Canadian Imperial Bank of Commerce boosted their target price on shares of Paramount Resources from C$25.50 to C$30.50 in a report on Wednesday, March 4th. Scotiabank boosted their target price on shares of Paramount Resources from C$29.00 to C$31.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. BMO Capital Markets boosted their target price on shares of Paramount Resources from C$24.00 to C$32.00 and gave the company an “outperform” rating in a report on Wednesday, March 4th. Royal Bank Of Canada boosted their target price on shares of Paramount Resources from C$26.00 to C$30.00 and gave the company a “sector perform” rating in a report on Wednesday, March 4th. Finally, ATB Cormark Capital Markets boosted their target price on shares of Paramount Resources from C$28.00 to C$33.00 and gave the company an “outperform” rating in a report on Wednesday, March 4th.

Paramount Resources Price Performance

Paramount Resources stock opened at C$30.49 on Thursday. The business’s 50 day simple moving average is C$28.43 and its 200 day simple moving average is C$25.56. The company has a current ratio of 3.77, a quick ratio of 0.68 and a debt-to-equity ratio of 0.94. Paramount Resources has a 12 month low of C$15.37 and a 12 month high of C$30.67. The company has a market cap of C$4.42 billion, a price-to-earnings ratio of 3.47, a PEG ratio of 0.14 and a beta of -0.05.

Paramount Resources (TSE:POU) last issued its earnings results on Tuesday, March 3rd. The company reported C($0.03) earnings per share (EPS) for the quarter. Paramount Resources had a net margin of 129.11% and a return on equity of 48.07%. The business had revenue of C$262.50 million for the quarter. Sell-side analysts forecast that Paramount Resources will post 1.4075758 EPS for the current year.

Paramount Resources Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 30th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a c) dividend on an annualized basis and a yield of 2.0%. Paramount Resources’s payout ratio is presently 6.83%.

Insider Transactions at Paramount Resources

In other Paramount Resources news, insider John B. Williams sold 6,800 shares of the business’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of C$30.45, for a total transaction of C$207,060.00. Following the sale, the insider owned 171,285 shares of the company’s stock, valued at C$5,215,628.25. The trade was a 3.82% decrease in their position. Over the last quarter, insiders have sold 18,000 shares of company stock worth $546,140. Insiders own 45.36% of the company’s stock.

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”.