Paramount Resources (TSE:POU) Price Target Raised to C$37.00

Paramount Resources (TSE:POU) had its price objective lifted by Stifel Nicolaus from C$36.00 to C$37.00 in a research note issued to investors on Friday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other brokerages have also commented on POU. National Bankshares lifted their price objective on shares of Paramount Resources from C$37.50 to C$40.00 and gave the stock an outperform rating in a research report on Friday, April 19th. Jefferies Financial Group dropped their price objective on Paramount Resources from C$33.00 to C$31.00 in a report on Thursday, March 7th. Raymond James cut 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 report on Friday, January 19th. Scotiabank dropped their price target on 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. Finally, Cormark lowered shares of Paramount Resources from a buy rating to a market perform rating and cut their target price for the stock from C$40.00 to C$37.50 in a research report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of C$35.80.

Paramount Resources Stock Up 1.3 %

Paramount Resources stock opened at C$32.46 on Friday. 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 1-year low of C$24.59 and a 1-year high of C$33.80. The firm has a market capitalization of C$4.69 billion, a price-to-earnings ratio of 10.24, a price-to-earnings-growth ratio of 0.14 and a beta of 3.23. The firm’s fifty day moving average price is C$28.87 and its two-hundred day moving average price is C$27.90.

Paramount Resources (TSE:POU) last released its quarterly earnings results 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 company had revenue of C$470.50 million during the quarter, compared to analysts’ expectations of C$436.00 million. On average, equities research analysts predict that Paramount Resources will post 2.3708207 earnings per share 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. Investors of record on Friday, May 31st will be issued a $0.15 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $1.80 annualized dividend and a yield of 5.55%. This is a boost from Paramount Resources’s previous monthly dividend of $0.13. Paramount Resources’s payout ratio is 47.32%.

Insider Buying and Selling

In other news, Senior Officer Mark Gordon Franko sold 8,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of C$32.20, for a total value of C$257,600.00. In related news, Senior Officer Bernard K. Lee sold 20,000 shares of the company’s stock in a transaction that occurred 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 Mark Gordon Franko sold 8,000 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of C$32.20, for a total value of C$257,600.00. Insiders sold a total of 77,655 shares of company stock valued at $2,278,857 over the last three months. Corporate 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.