Paramount Resources (TSE:POU) Sets New 52-Week High – Still a Buy?

Paramount Resources Ltd. (TSE:POU)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$31.42 and last traded at C$31.32, with a volume of 136152 shares trading hands. The stock had previously closed at C$31.09.

Analyst Ratings Changes

Several equities research analysts have issued reports on POU shares. BMO Capital Markets lifted their price target on Paramount Resources from C$24.00 to C$32.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 4th. Royal Bank Of Canada boosted their target price on Paramount Resources from C$26.00 to C$30.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 4th. ATB Cormark Capital Markets boosted their target price on Paramount Resources from C$28.00 to C$33.00 and gave the company an “outperform” rating in a research note on Wednesday, March 4th. Roth Mkm set a C$33.00 target price on Paramount Resources and gave the company a “buy” rating in a research note on Wednesday, March 4th. Finally, National Bank Financial boosted their target price on Paramount Resources from C$32.00 to C$32.50 and gave the company a “sector perform” rating in a research note on Wednesday, March 4th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$31.22.

Paramount Resources Stock Performance

The company has a market cap of C$4.26 billion, a PE ratio of 3.35, a P/E/G ratio of 0.14 and a beta of -0.03. The company has a current ratio of 3.77, a quick ratio of 0.68 and a debt-to-equity ratio of 0.94. The business has a fifty day moving average of C$28.76 and a 200-day moving average of C$25.81.

Paramount Resources (TSE:POU) last posted its earnings results on Tuesday, March 3rd. The company reported C($0.03) earnings per share for the quarter. Paramount Resources had a return on equity of 48.07% and a net margin of 129.11%.The firm had revenue of C$262.50 million for the quarter. Equities research analysts anticipate that Paramount Resources Ltd. will post 1.4075758 earnings per share for the current fiscal year.

Paramount Resources Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, May 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%. Paramount Resources’s dividend payout ratio is 6.83%.

Insider Buying and Selling at Paramount Resources

In other Paramount Resources news, insider John B. Williams sold 6,800 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of C$30.45, for a total transaction of C$207,060.00. Following the transaction, the insider owned 171,285 shares in the company, valued at approximately C$5,215,628.25. This represents a 3.82% decrease in their position. In the last quarter, insiders sold 18,000 shares of company stock worth $546,140. 45.36% of the stock is currently owned by corporate insiders.

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”.