Paramount Resources Ltd. (TSE:POU) Stock Has Average Price Target of C$34.35 According to Brokerages

Paramount Resources Ltd. (TSE:POU) has been given an average rating of “Moderate Buy” by the eight research firms that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is C$34.35.

POU has been the subject of a number of analyst reports. ATB Cormark Capital Markets boosted their price objective 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. Royal Bank Of Canada raised their target price on shares of Paramount Resources from C$35.00 to C$37.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. Scotia lifted their target price on shares of Paramount Resources from C$34.00 to C$36.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. BMO Capital Markets boosted their target price on shares of Paramount Resources from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Finally, Scotiabank raised shares of Paramount Resources to a “hold” rating in a research report on Friday, June 26th.

Insider Buying and Selling at Paramount Resources

In related news, Director James Geral Bell sold 2,050 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of C$27.17, for a total transaction of C$55,698.50. Corporate insiders own 45.36% of the company’s stock.

Paramount Resources Stock Down 2.0%

Shares of POU stock opened at C$29.64 on Friday. The stock’s 50 day simple moving average is C$31.02 and its 200 day simple moving average is C$29.89. Paramount Resources has a twelve month low of C$21.69 and a twelve month high of C$33.44. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.68 and a current ratio of 1.87. The company has a market capitalization of C$4.32 billion, a price-to-earnings ratio of 38.00, a PEG ratio of 0.14 and a beta of -0.26.

Paramount Resources (TSE:POU) last announced its earnings results on Thursday, August 6th. The company reported C$0.47 earnings per share (EPS) for the quarter. Paramount Resources had a return on equity of 4.30% and a net margin of 11.19%.The firm had revenue of C$317.90 million during the quarter. As a group, research analysts predict that Paramount Resources will post 1.4075758 EPS for the current year.

Paramount Resources Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.0%. Paramount Resources’s payout ratio is presently 76.92%.

Paramount Resources Company Profile

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”.