Paramount Resources (TSE:POU) PT Raised to C$40.00 at National Bankshares

Paramount Resources (TSE:POU) had its price objective raised by National Bankshares from C$37.50 to C$40.00 in a research report report published on Friday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other analysts have also recently weighed in on the stock. Scotiabank decreased their price target on shares of Paramount Resources from C$30.00 to C$29.00 and set an outperform rating for the company in a research note on Thursday, March 7th. Raymond James cut their price objective on shares of Paramount Resources from C$40.00 to C$36.00 and set an outperform rating for the company in a research report on Friday, January 19th. Royal Bank of Canada cut their price objective on shares of Paramount Resources from C$33.00 to C$32.00 and set a sector perform rating for the company in a research report on Thursday, March 7th. CIBC cut their price objective on shares of Paramount Resources from C$32.50 to C$30.00 and set a neutral rating for the company in a research report on Thursday, March 7th. Finally, Cormark downgraded shares of Paramount Resources from a buy rating to a market perform rating and cut their price objective for the stock from C$40.00 to C$37.50 in a research report on Thursday, March 7th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Paramount Resources currently has an average rating of Moderate Buy and an average price target of C$34.15.

Paramount Resources Stock Up 1.2 %

Shares of TSE:POU opened at C$29.15 on Friday. The stock has a market cap of C$4.21 billion, a P/E ratio of 9.20, a P/E/G ratio of 0.14 and a beta of 3.31. The firm has a fifty day moving average price of C$28.06 and a 200 day moving average price of C$27.88. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.71 and a quick ratio of 0.68. Paramount Resources has a 1-year low of C$24.59 and a 1-year high of C$33.80.

Paramount Resources (TSE:POU) last issued its quarterly earnings results on Wednesday, March 6th. The company reported C$0.75 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.95 by C($0.20). The business had revenue of C$470.50 million for the quarter, compared to analyst estimates of C$436.00 million. Paramount Resources had a return on equity of 13.67% and a net margin of 26.13%. Sell-side analysts predict that Paramount Resources will post 2.5252525 EPS for the current year.

Paramount Resources Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 5.15%. Paramount Resources’s dividend payout ratio is presently 47.32%.

Insider Activity

In other Paramount Resources news, Senior Officer Michael S. Han sold 30,040 shares of the firm’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. In other Paramount Resources news, Senior Officer John B. Williams sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of C$29.60, for a total transaction of C$236,800.00. Also, Senior Officer Michael S. Han sold 30,040 shares of the firm’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 sold 69,655 shares of company stock worth $2,021,257 in the last 90 days. 45.91% of the stock is currently owned by corporate insiders.

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.