Paramount Resources (TSE:POU) Price Target Raised to C$38.00

Paramount Resources (TSE:POU) had its target price raised by National Bank Financial from C$36.00 to C$38.00 in a research note released on Wednesday,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

Several other equities research analysts also recently weighed in on the company. Scotiabank increased their price objective on Paramount Resources from C$29.00 to C$31.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Canadian Imperial Bank of Commerce increased their price objective on Paramount Resources from C$25.50 to C$30.50 in a report on Wednesday, March 4th. Raymond James Financial increased their price objective on Paramount Resources from C$29.00 to C$31.00 and gave the company an “outperform” rating in a report on Wednesday, March 4th. ATB Cormark Capital Markets increased their price objective on Paramount Resources from C$28.00 to C$33.00 and gave the company an “outperform” rating in a report on Wednesday, March 4th. Finally, Roth Mkm set a C$33.00 price objective on Paramount Resources and gave the company a “buy” rating in a report on Wednesday, March 4th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$32.94.

Paramount Resources Stock Performance

Shares of POU opened at C$32.06 on Wednesday. The stock has a 50 day moving average price of C$29.12 and a 200 day moving average price of C$26.13. The company has a quick ratio of 0.68, a current ratio of 2.57 and a debt-to-equity ratio of 0.89. The company has a market capitalization of C$4.66 billion, a price-to-earnings ratio of 80.15, a price-to-earnings-growth ratio of 0.14 and a beta of -0.03. Paramount Resources has a 52-week low of C$18.61 and a 52-week high of C$32.06.

Paramount Resources (TSE:POU) last announced its quarterly earnings results on Tuesday, May 12th. The company reported C$0.36 earnings per share (EPS) for the quarter. The firm had revenue of C$276.20 million during the quarter. Paramount Resources had a return on equity of 1.96% and a net margin of 5.90%. Research analysts predict that Paramount Resources will post 1.4075758 EPS for the current fiscal year.

Paramount Resources Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.05 per share. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, May 15th. Paramount Resources’s dividend payout ratio is 150.00%.

Insider Buying and Selling

In other news, insider Tyson Riddell sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of C$31.36, for a total transaction of C$156,800.00. Following the completion of the sale, the insider owned 14,458 shares in the company, valued at C$453,402.88. This represents a 25.70% decrease in their ownership of the stock. Also, insider Rodrigo Sousa purchased 6,946 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were bought at an average price of C$30.50 per share, with a total value of C$211,853.00. Following the purchase, the insider directly owned 25,100 shares of the company’s stock, valued at approximately C$765,550. The trade was a 38.26% increase in their ownership of the stock. Over the last three months, insiders have acquired 9,688 shares of company stock worth $295,917 and have sold 48,000 shares worth $1,475,440. 45.36% of the stock is currently owned by insiders.

About Paramount Resources

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”.