Paramount Resources Ltd. (TSE:POU) to Issue Dividend Increase – $0.15 Per Share

Paramount Resources Ltd. (TSE:POU) announced a monthly dividend on Thursday, May 2nd, TickerTech reports. Investors of record on Wednesday, May 15th will be given a dividend of 0.15 per share on Friday, May 31st. This represents a $1.80 annualized dividend and a yield of 5.62%. The ex-dividend date of this dividend is Tuesday, May 14th. This is an increase from Paramount Resources’s previous monthly dividend of $0.13.

Paramount Resources Price Performance

POU stock opened at C$32.05 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 has a 50 day moving average price of C$28.80 and a 200-day moving average price of C$27.95. Paramount Resources has a 52-week low of C$24.59 and a 52-week high of C$33.80. The firm has a market capitalization of C$4.63 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.14 and a beta of 3.23.

Paramount Resources (TSE:POU) last announced its quarterly earnings data on Wednesday, March 6th. The company reported C$0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.95 by C($0.20). Paramount Resources had a net margin of 26.13% and a return on equity of 13.67%. The company had revenue of C$470.50 million for the quarter, compared to analysts’ expectations of C$436.00 million. Equities research analysts forecast that Paramount Resources will post 2.3708207 EPS for the current fiscal year.

Insider Transactions at Paramount Resources

In other Paramount Resources 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 transaction of C$841,120.00. In related news, Director Dirk Jungé sold 4,027 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of C$28.56, for a total transaction of C$115,028.03. Also, Senior Officer Michael S. Han sold 30,040 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of C$28.00, for a total value of C$841,120.00. Insiders have sold 69,655 shares of company stock valued at $2,021,257 over the last quarter. 45.75% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on POU shares. Raymond James reduced their target price on Paramount Resources from C$40.00 to C$36.00 and set an “outperform” rating for the company in a report on Friday, January 19th. Royal Bank of Canada boosted their target price on Paramount Resources from C$34.00 to C$36.00 and gave the stock a “sector perform” rating in a research report on Friday. BMO Capital Markets raised their price target on shares of Paramount Resources from C$37.00 to C$38.50 and gave the company an “outperform” rating in a report on Friday. National Bankshares raised their price target on Paramount Resources from C$37.50 to C$40.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Finally, ATB Capital cut their price target on 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 investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$35.80.

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.