Paramount Resources (TSE:POU) Given New C$38.50 Price Target at BMO Capital Markets

Paramount Resources (TSE:POU) had its price objective upped by BMO Capital Markets from C$37.00 to C$38.50 in a research report sent to investors on Friday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. Scotiabank reduced their price objective on shares of Paramount Resources from C$30.00 to C$29.00 and set an outperform rating for the company in a research report on Thursday, March 7th. CIBC upped their price target on shares of Paramount Resources from C$30.00 to C$35.00 and gave the stock a neutral rating in a research report on Monday, April 22nd. National Bankshares lifted their price objective on 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 cut their price objective on Paramount Resources from C$33.00 to C$31.00 in a research note on Thursday, March 7th. Finally, ATB Capital decreased their target price on Paramount Resources from C$37.00 to C$36.00 and set an outperform rating on the stock in a research report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of C$35.80.

Paramount Resources Stock Performance

TSE POU opened at C$32.46 on Friday. The stock has a market capitalization of C$4.69 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 0.14 and a beta of 3.23. The stock has a 50-day moving average of C$28.87 and a 200 day 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 has a twelve month low of C$24.59 and a twelve month high of C$33.80.

Paramount Resources (TSE:POU) last posted its quarterly earnings data on Wednesday, March 6th. The company reported C$0.75 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of C$470.50 million during the quarter, compared to analysts’ expectations of C$436.00 million. Sell-side analysts anticipate 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 dividend of $0.15 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.55%. The ex-dividend date of this dividend is Tuesday, May 14th. This is a positive change from Paramount Resources’s previous monthly dividend of $0.13. Paramount Resources’s payout ratio is currently 47.32%.

Insider Activity

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 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, Director Dirk Jungé sold 4,027 shares of Paramount Resources stock in a transaction on Thursday, April 4th. The stock was sold at an average price of C$28.56, for a total value of C$115,028.03. Also, Senior Officer Michael S. Han sold 30,040 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of C$28.00, for a total value of C$841,120.00. In the last quarter, insiders have sold 77,655 shares of company stock valued at $2,278,857. 45.75% of the stock is currently owned by 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.