Paramount Resources (TSE:POU) Price Target Raised to C$36.00 at Scotia

Paramount Resources (TSE:POU) had its price objective increased by Scotia from C$34.00 to C$36.00 in a report issued on Friday morning,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

Several other equities analysts have also commented on POU. ATB Cormark Capital Markets upped their price objective on shares of Paramount Resources from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a report on Friday. National Bank Financial lifted their target price on shares of Paramount Resources from C$36.00 to C$38.00 and gave the company a “sector perform” rating in a report on Wednesday, May 13th. Royal Bank Of Canada boosted their target price on Paramount Resources from C$32.00 to C$35.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 13th. Raymond James Financial upped their price target on Paramount Resources from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Finally, BMO Capital Markets lifted their price objective on Paramount Resources from C$35.00 to C$37.00 and gave the company an “outperform” rating in a research note on Friday. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$34.35.

Paramount Resources Stock Down 2.1%

Shares of POU opened at C$30.10 on Friday. The company’s 50-day moving average price is C$28.98 and its 200 day moving average price is C$28.47. Paramount Resources has a 12-month low of C$19.37 and a 12-month high of C$33.44. The company has a current ratio of 2.57, a quick ratio of 0.68 and a debt-to-equity ratio of 0.89. The firm has a market cap of C$4.39 billion, a P/E ratio of 75.25, a price-to-earnings-growth ratio of 0.14 and a beta of -0.25.

Paramount Resources (TSE:POU) last announced its earnings results on Thursday, August 6th. The company reported C$0.47 earnings per share for the quarter. Paramount Resources had a net margin of 5.90% and a return on equity of 1.96%. The company had revenue of C$317.90 million during the quarter. On average, sell-side analysts forecast that Paramount Resources will post 1.4075758 earnings per share for the current year.

Paramount Resources Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 31st will be issued a $0.05 dividend. The ex-dividend date is Monday, August 17th. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%. Paramount Resources’s payout ratio is 150.00%.

Insider Activity

In other Paramount Resources news, insider David Blake Reid sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of C$30.90, for a total value of C$772,500.00. Following the completion of the transaction, the insider owned 172,313 shares of the company’s stock, valued at C$5,324,471.70. This trade represents a 12.67% decrease in their position. Also, Director James Geral Bell sold 2,050 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of C$27.17, for a total transaction of C$55,698.50. Over the last 90 days, insiders bought 10,148 shares of company stock worth $308,401 and sold 44,800 shares worth $1,388,875. Corporate insiders own 45.36% of the company’s stock.

Paramount Resources News Roundup

Here are the key news stories impacting Paramount Resources this week:

• Positive Sentiment: Analysts raised price targets: Scotia increased its target to C$36 from C$34 while maintaining a “sector perform” rating. BMO Capital Markets and ATB Cormark raised their targets to C$37 from C$35 and kept “outperform” ratings. Royal Bank of Canada also lifted its target to C$37 but retained a “sector perform” view. The revised targets imply approximately 19.5% to 22.8% upside from the referenced C$30.13 price. BayStreet analyst ratings
• Positive Sentiment: Monthly dividend announced: Paramount declared a C$0.05-per-share monthly dividend, payable August 31 to shareholders of record August 31. The dividend equates to an annualized payout of approximately C$0.60 per share and a reported 2.0% yield. The ex-dividend date is August 17.
• Neutral Sentiment: Analyst consensus remains favorable: Paramount received an average analyst recommendation of “Moderate Buy,” suggesting broad support but not an overwhelmingly bullish consensus. Paramount Resources analyst recommendation
• Neutral Sentiment: Quarterly results reported: Paramount posted earnings of C$0.47 per share on revenue of C$317.90 million. Net margin was 5.90% and return on equity was 1.96%. The results confirm continued profitability, although the reported figures alone do not indicate whether the company exceeded market expectations. Paramount Resources quarterly results

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”.