Paramount Resources (TSE:POU) Given New C$36.00 Price Target at Royal Bank of Canada

Paramount Resources (TSE:POU) had its price objective boosted by Royal Bank of Canada from C$34.00 to C$36.00 in a research report sent to investors on Friday morning, BayStreet.CA reports. They currently have a sector perform rating on the stock.

POU has been the subject of a number of other research reports. Jefferies Financial Group reduced their price target on Paramount Resources from C$33.00 to C$31.00 in a report on Thursday, March 7th. Raymond James decreased their price target on shares of Paramount Resources from C$40.00 to C$36.00 and set an outperform rating for the company in a research report on Friday, January 19th. National Bankshares upped their price target on shares of Paramount Resources from C$37.50 to C$40.00 and gave the company an outperform rating in a report on Friday, April 19th. Stifel Nicolaus raised their price objective on shares of Paramount Resources from C$36.00 to C$37.00 and gave the stock a buy rating in a report on Friday. Finally, CIBC boosted their target price 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. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Paramount Resources presently has an average rating of Moderate Buy and an average price target of C$35.80.

Paramount Resources Price Performance

POU opened at C$32.05 on Friday. Paramount Resources has a twelve month low of C$24.59 and a twelve month high of C$33.80. The firm has a market cap of C$4.63 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.14 and a beta of 3.23. 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 company has a fifty day simple moving average of C$28.80 and a 200 day simple moving average of C$27.95.

Paramount Resources (TSE:POU) last posted its quarterly earnings data 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). Paramount Resources had a net margin of 26.13% and a return on equity of 13.67%. The firm had revenue of C$470.50 million during the quarter, compared to analysts’ expectations of C$436.00 million. Equities research analysts expect that Paramount Resources will post 2.3708207 EPS for the current fiscal year.

Paramount Resources Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be paid a dividend of $0.15 per share. This is a positive change from Paramount Resources’s previous monthly dividend of $0.13. The ex-dividend date is Tuesday, May 14th. This represents a $1.80 annualized dividend and a yield of 5.62%. Paramount Resources’s dividend payout ratio is 47.32%.

Insiders Place Their Bets

In other news, 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 other Paramount Resources news, Senior Officer Bernard K. Lee sold 20,000 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of C$30.50, for a total value of C$610,000.00. Also, Senior Officer Michael S. Han sold 30,040 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of C$28.00, for a total transaction of C$841,120.00. Insiders have sold 69,655 shares of company stock valued at $2,021,257 over the last quarter. Insiders own 45.75% of the company’s stock.

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.