CIBC Boosts Paramount Resources (TSE:POU) Price Target to C$35.00

Paramount Resources (TSE:POU) had its price target hoisted by CIBC from C$30.00 to C$35.00 in a research note published on Monday morning, BayStreet.CA reports. They currently have a neutral rating on the stock.

Other analysts have also issued reports about the stock. BMO Capital Markets set a C$37.00 target price on shares of Paramount Resources and gave the company an outperform rating in a research report on Tuesday, April 9th. Stifel Nicolaus decreased their target price on shares of Paramount Resources from C$33.50 to C$33.00 and set a buy rating on the stock in a research report on Thursday, March 7th. National Bankshares lifted their target price on shares of Paramount Resources from C$37.50 to C$40.00 and gave the company an outperform rating in a research report on Friday, April 19th. Scotiabank decreased their target price on shares of Paramount Resources from C$30.00 to C$29.00 and set an outperform rating on the stock in a research report on Thursday, March 7th. Finally, ATB Capital decreased their target price on shares of Paramount Resources from C$37.00 to C$36.00 and set an outperform rating on the stock in a research report on Thursday, March 7th. Three investment 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.com, the stock has an average rating of Moderate Buy and a consensus target price of C$34.95.

Paramount Resources Stock Performance

TSE:POU opened at C$30.80 on Monday. The firm’s 50-day moving average is C$28.29 and its 200-day moving average is C$27.86. Paramount Resources has a 52-week low of C$24.59 and a 52-week high of C$33.80. 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 company has a market cap of C$4.45 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 0.14 and a beta of 3.31.

Paramount Resources (TSE:POU) last posted its quarterly earnings data on Wednesday, March 6th. The company reported C$0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.95 by C($0.20). Paramount Resources had a return on equity of 13.67% and a net margin of 26.13%. The company had revenue of C$470.50 million for the quarter, compared to the consensus estimate of C$436.00 million. Equities research analysts anticipate that Paramount Resources will post 2.5252525 earnings per share for the current year.

Paramount Resources Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be given a $0.125 dividend. The ex-dividend date is Friday, April 12th. This represents a $1.50 dividend on an annualized basis and a yield of 4.87%. Paramount Resources’s dividend payout ratio (DPR) is presently 47.32%.

Insider Buying and Selling at Paramount Resources

In other 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 shares were sold at an average price of C$30.50, for a total transaction of C$610,000.00. In other 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 shares were sold at an average price of C$30.50, for a total transaction of C$610,000.00. Also, Senior Officer John B. Williams sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of C$29.60, for a total transaction of C$236,800.00. Insiders have sold a total of 69,655 shares of company stock worth $2,021,257 over the last ninety days. 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.