Stifel Nicolaus Raises Paramount Resources (TSE:POU) Price Target to C$37.00

Paramount Resources (TSE:POU) had its target price hoisted by Stifel Nicolaus from C$36.00 to C$37.00 in a research note published on Friday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also commented on POU. National Bankshares increased their price target on Paramount Resources from C$37.50 to C$40.00 and gave the company an outperform rating in a research report on Friday, April 19th. Jefferies Financial Group reduced their price objective on shares of Paramount Resources from C$33.00 to C$31.00 in a research report on Thursday, March 7th. Scotiabank cut their target price on Paramount Resources from C$30.00 to C$29.00 and set an outperform rating on the stock in a research note on Thursday, March 7th. Raymond James dropped their price target on Paramount Resources from C$40.00 to C$36.00 and set an outperform rating on the stock in a report on Friday, January 19th. Finally, BMO Capital Markets set a C$37.00 price objective on Paramount Resources and gave the company an outperform rating in a research note on Tuesday, April 9th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of C$35.80.

Paramount Resources Stock Performance

Shares of POU stock opened at C$32.05 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83. The firm has a fifty day simple moving average of C$28.80 and a two-hundred day simple moving average of C$27.90. Paramount Resources has a 12 month low of C$24.59 and a 12 month high of C$33.80. The firm has a market capitalization of C$4.63 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.14 and a beta of 3.23.

Paramount Resources (TSE:POU) last posted its 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 during 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%. Analysts forecast 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. Stockholders of record on Friday, May 31st will be issued a $0.15 dividend. This is a positive change from Paramount Resources’s previous monthly dividend of $0.13. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.62%. The ex-dividend date of this dividend is Tuesday, May 14th. Paramount Resources’s dividend payout ratio (DPR) is presently 47.32%.

Insider Activity at Paramount Resources

In other Paramount Resources news, Senior Officer Michael S. Han sold 30,040 shares of Paramount Resources stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of C$28.00, for a total transaction of C$841,120.00. In other news, Senior Officer John B. Williams sold 8,000 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was 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 company’s stock in a transaction that occurred 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. In the last three months, insiders have sold 69,655 shares of company stock worth $2,021,257. 45.75% of the stock is owned by company 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.