Paramount Resources (TSE:POU) Price Target Raised to C$36.00

Paramount Resources (TSE:POU) had its target price boosted by Stifel Nicolaus from C$33.00 to C$36.00 in a research report report published on Tuesday morning, BayStreet.CA reports. Stifel Nicolaus currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Cormark lowered 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 research note 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 note on Friday, January 19th. CIBC raised their price target on shares of Paramount Resources from C$30.00 to C$35.00 and gave the stock a neutral rating in a research note on Monday. Royal Bank of Canada decreased their price target on shares of Paramount Resources from C$33.00 to C$32.00 and set a sector perform rating for the company in a research note on Thursday, March 7th. Finally, 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 research note on Thursday, March 7th. 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, the company currently has a consensus rating of Moderate Buy and a consensus price target of C$34.95.

Paramount Resources Price Performance

Paramount Resources stock opened at C$31.58 on Tuesday. Paramount Resources has a 52 week low of C$24.59 and a 52 week high of C$33.80. The company’s 50 day moving average price is C$28.38 and its two-hundred day moving average price is C$27.89. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of 0.83. The stock has a market cap of C$4.56 billion, a P/E ratio of 9.96, a P/E/G ratio of 0.14 and a beta of 3.31.

Paramount Resources (TSE:POU) last posted its earnings results on Wednesday, March 6th. The company reported C$0.75 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 firm had revenue of C$470.50 million for the quarter, compared to the consensus estimate of C$436.00 million. On average, equities analysts predict that Paramount Resources will post 2.5252525 earnings per share for the current year.

Paramount Resources Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid 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 4.75%. Paramount Resources’s dividend payout ratio is 47.32%.

Insider Activity at Paramount Resources

In related news, Senior Officer Michael S. Han sold 30,040 shares of Paramount Resources stock in a transaction that occurred 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 news, 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. Also, Senior Officer John B. Williams sold 8,000 shares of the business’s 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. In the last ninety days, insiders sold 69,655 shares of company stock worth $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.