Paramount Resources (TSE:POU) Price Target Raised to C$40.00 at National Bankshares

Paramount Resources (TSE:POU) had its target price upped by National Bankshares from C$37.50 to C$40.00 in a report released on Friday morning, BayStreet.CA reports. National Bankshares currently has an outperform rating on the stock.

Several other brokerages also recently weighed in on POU. Jefferies Financial Group lowered their target price on shares of Paramount Resources from C$33.00 to C$31.00 in a research note on Thursday, March 7th. CIBC decreased their price target on shares of Paramount Resources from C$32.50 to C$30.00 and set a neutral rating for the company in a report on Thursday, March 7th. ATB Capital decreased their price target on shares of Paramount Resources from C$37.00 to C$36.00 and set an outperform rating for the company in a report on Thursday, March 7th. BMO Capital Markets set a C$37.00 price target on shares of Paramount Resources and gave the stock an outperform rating in a report on Tuesday, April 9th. Finally, Cormark cut shares of Paramount Resources from a buy rating to a market perform rating and decreased their price target for the stock from C$40.00 to C$37.50 in a report on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of C$34.15.

Paramount Resources Price Performance

TSE POU opened at C$29.15 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.71. The firm’s 50 day moving average price is C$28.06 and its 200-day moving average price is C$27.88. Paramount Resources has a 52-week low of C$24.59 and a 52-week high of C$33.80. The company has a market cap of C$4.21 billion, a PE ratio of 9.20, a P/E/G ratio of 0.14 and a beta of 3.31.

Paramount Resources (TSE:POU) last announced its earnings results on Wednesday, March 6th. The company reported C$0.75 earnings per share for the quarter, missing the consensus estimate of C$0.95 by C($0.20). The firm had revenue of C$470.50 million during the quarter, compared to analyst estimates of C$436.00 million. Paramount Resources had a net margin of 26.13% and a return on equity of 13.67%. Sell-side analysts forecast that Paramount Resources will post 2.5252525 EPS for the current fiscal year.

Paramount Resources Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.50 dividend on an annualized basis and a yield of 5.15%. Paramount Resources’s payout ratio is 47.32%.

Insider Buying and Selling at Paramount Resources

In other Paramount Resources news, Senior Officer Michael S. Han sold 30,040 shares of Paramount Resources stock in a transaction on Thursday, March 7th. The shares were sold at an average price of C$28.00, for a total value of C$841,120.00. In other Paramount Resources news, Senior Officer Michael S. Han sold 30,040 shares of Paramount Resources stock in a transaction on Thursday, March 7th. The shares were sold at an average price of C$28.00, for a total value of C$841,120.00. Also, Senior Officer John B. Williams sold 8,000 shares of Paramount Resources stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of C$29.60, for a total transaction of C$236,800.00. Over the last quarter, insiders sold 69,655 shares of company stock valued at $2,021,257. Corporate insiders own 45.91% of the company’s stock.

About Paramount Resources

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.