Royal Bank of Canada Increases Paramount Resources (TSE:POU) Price Target to C$36.00

Paramount Resources (TSE:POU) had its target price boosted by Royal Bank of Canada from C$34.00 to C$36.00 in a report published on Friday morning, BayStreet.CA reports. They currently have a sector perform rating on the stock.

Several other analysts also recently commented on the stock. National Bankshares lifted their target price on shares of Paramount Resources from C$37.50 to C$40.00 and gave the stock an outperform rating in a report on Friday, April 19th. Jefferies Financial Group lowered their target price on Paramount Resources from C$33.00 to C$31.00 in a research note on Thursday, March 7th. Scotiabank reduced their price target on 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. BMO Capital Markets lifted their target price on Paramount Resources from C$37.00 to C$38.50 and gave the stock an outperform rating in a report on Friday. Finally, ATB Capital decreased their price target on shares of Paramount Resources from C$37.00 to C$36.00 and set an outperform rating on the stock in a research note on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of C$35.80.

Paramount Resources Price Performance

TSE:POU opened at C$32.05 on Friday. The stock has a market capitalization of C$4.63 billion, a PE ratio of 10.11, a P/E/G ratio of 0.14 and a beta of 3.23. Paramount Resources has a 1-year low of C$24.59 and a 1-year high of C$33.80. The firm has a fifty day simple moving average of C$28.80 and a 200 day simple moving average of C$27.90. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83.

Paramount Resources (TSE:POU) last issued its earnings results on Wednesday, March 6th. The company reported C$0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.95 by C($0.20). Paramount Resources had a net margin of 26.13% and a return on equity of 13.67%. The firm had revenue of C$470.50 million during the quarter, compared to analyst estimates of C$436.00 million. On average, research analysts expect that Paramount Resources will post 2.3708207 EPS for the current fiscal year.

Paramount Resources Increases Dividend

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

Insider Buying and Selling

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 value of C$841,120.00. In other Paramount Resources news, Senior Officer Michael S. Han sold 30,040 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of C$28.00, for a total transaction of C$841,120.00. Also, Director James Geral Bell sold 6,666 shares of the stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of C$29.03, for a total transaction of C$193,513.98. Insiders sold 69,655 shares of company stock valued at $2,021,257 over the last quarter. 45.75% of the stock is owned by company insiders.

About Paramount Resources

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.