Paramount Resources (TSE:POU) Price Target Increased to C$38.50 by Analysts at BMO Capital Markets

Paramount Resources (TSE:POU) had its price target raised by BMO Capital Markets from C$37.00 to C$38.50 in a research note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts also recently commented on POU. Royal Bank of Canada lowered 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 report on Thursday, March 7th. 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 report on Friday, January 19th. Scotiabank reduced their target price on Paramount Resources from C$30.00 to C$29.00 and set an outperform rating on the stock in a report on Thursday, March 7th. Jefferies Financial Group dropped their price target on Paramount Resources from C$33.00 to C$31.00 in a research note on Thursday, March 7th. Finally, CIBC lifted their price objective on Paramount Resources from C$30.00 to C$35.00 and gave the stock a neutral rating in a research note on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Paramount Resources presently has a consensus rating of Moderate Buy and a consensus target price of C$35.80.

Paramount Resources Price Performance

TSE:POU opened at C$32.05 on Friday. The business’s 50-day simple moving average is C$28.80 and its two-hundred day simple moving average is C$27.95. Paramount Resources has a 52 week low of C$24.59 and a 52 week high of C$33.80. The stock has a market cap of C$4.63 billion, a PE ratio of 10.11, a P/E/G ratio of 0.14 and a beta of 3.23. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of 0.83.

Paramount Resources (TSE:POU) last released its earnings results 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 business had revenue of C$470.50 million for the quarter, compared to analysts’ expectations of C$436.00 million. As a group, analysts forecast that Paramount Resources will post 2.3708207 EPS for the current fiscal year.

Paramount Resources Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be given a $0.15 dividend. 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. This represents a $1.80 dividend on an annualized basis and a yield of 5.62%. Paramount Resources’s dividend payout ratio (DPR) is currently 47.32%.

Insider Buying and Selling at Paramount Resources

In other news, Senior Officer Michael S. Han sold 30,040 shares of the firm’s stock in a transaction dated 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 Paramount Resources news, Senior Officer John B. Williams sold 8,000 shares of the business’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. Also, Senior Officer Michael S. Han sold 30,040 shares of the company’s 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. Insiders have sold 69,655 shares of company stock worth $2,021,257 over the last quarter. Insiders own 45.75% of the company’s stock.

Paramount Resources Company Profile

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.