Paramount Resources Ltd. (TSE:POU) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Paramount Resources Ltd. (TSE:POU) have received an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is C$34.95.

Several research firms recently issued reports on POU. BMO Capital Markets set a C$37.00 price target on Paramount Resources and gave the company an “outperform” rating in a research note on Tuesday, April 9th. Raymond James dropped their price objective 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. Royal Bank of Canada decreased their target price on shares of Paramount Resources from C$33.00 to C$32.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 7th. Cormark downgraded shares of Paramount Resources from a “buy” rating to a “market perform” rating and dropped their price target for the company from C$40.00 to C$37.50 in a research report on Thursday, March 7th. Finally, Stifel Nicolaus boosted their price target on Paramount Resources from C$33.00 to C$36.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd.

Insider Activity

In related news, Senior Officer Michael S. Han sold 30,040 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of C$28.00, for a total transaction of C$841,120.00. In related news, Senior Officer Michael S. Han sold 30,040 shares of the 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. Also, Senior Officer Bernard K. Lee sold 20,000 shares of the firm’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 the last quarter, insiders have sold 69,655 shares of company stock worth $2,021,257. Insiders own 45.75% of the company’s stock.

Paramount Resources Stock Performance

TSE POU opened at C$31.20 on Friday. The stock has a market cap of C$4.51 billion, a PE ratio of 9.84, a P/E/G ratio of 0.14 and a beta of 3.23. 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 has a 50-day moving average of C$28.64 and a 200-day moving average of C$27.89. Paramount Resources has a 52-week low of C$24.59 and a 52-week high of C$33.80.

Paramount Resources (TSE:POU) last issued 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 analyst estimates of C$436.00 million. On average, sell-side analysts anticipate that Paramount Resources will post 2.3708207 EPS for the current year.

Paramount Resources Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were issued a $0.125 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend was Friday, April 12th. Paramount Resources’s dividend payout ratio is presently 47.32%.

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.