Analysts Set Paramount Resources Ltd. (TSE:POU) Target Price at C$34.35

Paramount Resources Ltd. (TSE:POU) has been given a consensus recommendation of “Moderate Buy” by the eight analysts that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is C$34.35.

Several analysts recently weighed in on the company. Royal Bank Of Canada raised their price objective on Paramount Resources from C$35.00 to C$37.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. National Bank Financial increased their target price on shares of Paramount Resources from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 13th. Raymond James Financial raised their price target on shares of Paramount Resources from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Scotia lifted their price target on shares of Paramount Resources from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a report on Friday, August 7th. Finally, Scotiabank upgraded shares of Paramount Resources to a “hold” rating in a research report on Friday, June 26th.

Insider Buying and Selling at Paramount Resources

In other news, Director James Geral Bell sold 2,050 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of C$27.17, for a total transaction of C$55,698.50. Insiders own 45.36% of the company’s stock.

Paramount Resources Stock Up 1.2%

TSE POU opened at C$31.97 on Wednesday. The business has a fifty day moving average price of C$29.78 and a two-hundred day moving average price of C$29.32. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.87 and a quick ratio of 0.68. Paramount Resources has a fifty-two week low of C$19.92 and a fifty-two week high of C$33.44. The stock has a market capitalization of C$4.66 billion, a PE ratio of 40.99, a PEG ratio of 0.14 and a beta of -0.25.

Paramount Resources (TSE:POU) last issued its earnings results on Thursday, August 6th. The company reported C$0.47 earnings per share for the quarter. Paramount Resources had a return on equity of 4.30% and a net margin of 11.19%.The firm had revenue of C$317.90 million for the quarter. Equities analysts expect that Paramount Resources will post 1.4075758 earnings per share for the current fiscal year.

Paramount Resources Announces Dividend

The business also recently announced a monthly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 31st were paid a dividend of $0.05 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, August 17th. Paramount Resources’s payout ratio is presently 76.92%.

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”.