Paramount Resources (TSE:POU) Sets New 12-Month Low at $33.33

Paramount Resources Ltd. (TSE:POU)’s stock price hit a new 52-week low on Monday . The stock traded as low as C$33.33 and last traded at C$33.51, with a volume of 7654 shares changing hands. The stock had previously closed at C$33.38.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on POU. CIBC lifted their price objective on shares of Paramount Resources from C$37.50 to C$40.00 in a research report on Friday, July 14th. National Bankshares raised shares of Paramount Resources from a “sector perform” rating to an “outperform” rating and set a C$40.00 target price on the stock in a research note on Thursday, August 3rd. Royal Bank of Canada raised their target price on shares of Paramount Resources from C$35.00 to C$37.00 and gave the company a “sector perform” rating in a research note on Thursday, August 3rd. Finally, Raymond James raised their target price on shares of Paramount Resources from C$37.00 to C$40.00 and gave the company an “outperform” rating in a research note on Friday.

Paramount Resources Price Performance

The company’s 50 day moving average price is C$30.82 and its 200-day moving average price is C$30.36. The company has a market cap of C$4.72 billion, a price-to-earnings ratio of 6.52, a PEG ratio of 0.14 and a beta of 3.55. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.68 and a current ratio of 0.88.

Paramount Resources (TSE:POU) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported C$0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.36 by C$0.14. The company had revenue of C$374.40 million for the quarter. Paramount Resources had a net margin of 35.18% and a return on equity of 24.13%. On average, equities research analysts forecast that Paramount Resources Ltd. will post 3.9570025 earnings per share for the current fiscal year.

Paramount Resources Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 29th will be paid a $0.125 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.50 annualized dividend and a dividend yield of 4.56%. Paramount Resources’s dividend payout ratio is currently 29.41%.

Insider Transactions at Paramount Resources

In other news, Senior Officer E. Mitchell Shier sold 10,000 shares of Paramount Resources stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of C$32.19, for a total value of C$321,910.00. Corporate insiders own 45.88% of the company’s stock.

Paramount Resources Company Profile

Paramount Resources Ltd. explores for and develops conventional and unconventional petroleum and natural gas in Canada. The company holds interests in the Karr and Wapiti Montney properties covering an area of 185,000 net acres located south of the city of Grande Prairie, Alberta; Kaybob North Duvernay development, the Kaybob North Montney oil development and other low-decline, legacy shale gas, and conventional natural gas producing properties covering an area of 745,000 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 811,000 net acres.