Paramount Resources (TSE:POU) Given New C$37.00 Price Target at CIBC

Paramount Resources (TSE:POU) had its price objective lifted by CIBC from C$35.00 to C$37.00 in a research note issued to investors on Friday, BayStreet.CA reports. They currently have a neutral rating on the stock.

Several other research firms also recently commented on POU. Royal Bank of Canada boosted their target price on shares of Paramount Resources from C$34.00 to C$36.00 and gave the stock a sector perform rating in a research report on Friday. Scotiabank decreased their price objective on Paramount Resources from C$30.00 to C$29.00 and set an outperform rating for the company in a report on Thursday, March 7th. Jefferies Financial Group lowered their price objective on Paramount Resources from C$33.00 to C$31.00 in a research note on Thursday, March 7th. Stifel Nicolaus lifted their target price on Paramount Resources from C$36.00 to C$37.00 and gave the company a buy rating in a research report on Friday. Finally, ATB Capital lowered 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 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 company’s stock. According to data from MarketBeat, Paramount Resources has an average rating of Moderate Buy and an average target price of C$35.80.

Paramount Resources Trading Up 0.2 %

Shares of Paramount Resources stock opened at C$32.05 on Friday. The stock has a market capitalization of C$4.63 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.14 and a beta of 3.23. Paramount Resources has a 52 week low of C$24.59 and a 52 week high of C$33.80. The stock has a 50 day moving average price of C$28.80 and a two-hundred day moving average price of C$27.95. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.71.

Paramount Resources (TSE:POU) last issued its earnings results 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). The firm had revenue of C$470.50 million during the quarter, compared to the consensus estimate of C$436.00 million. Paramount Resources had a return on equity of 13.67% and a net margin of 26.13%. As a group, equities analysts anticipate that Paramount Resources will post 2.3708207 earnings per share for the current fiscal year.

Paramount Resources Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be paid a $0.15 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date is Tuesday, May 14th. This is an increase from Paramount Resources’s previous monthly dividend of $0.13. Paramount Resources’s dividend payout ratio is 47.32%.

Insider Transactions at Paramount Resources

In related news, Senior Officer Bernard K. Lee sold 20,000 shares of the stock in a transaction dated 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 Paramount Resources news, Senior Officer John B. Williams sold 8,000 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of C$29.60, for a total value of C$236,800.00. Also, Senior Officer Bernard K. Lee sold 20,000 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of C$30.50, for a total value of C$610,000.00. Insiders have sold 69,655 shares of company stock worth $2,021,257 in the last ninety days. Company insiders own 45.75% 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.