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

Paramount Resources Ltd. (TSE:POU) has been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is C$37.25.

POU has been the subject of a number of analyst reports. BMO Capital Markets increased their price objective on shares of Paramount Resources from C$38.50 to C$40.00 in a research note on Wednesday, July 3rd. Jefferies Financial Group cut their target price on shares of Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating for the company in a research note on Monday, September 16th. CIBC raised their target price on shares of Paramount Resources from C$37.00 to C$38.00 in a research note on Monday, July 15th. Finally, Scotiabank raised their target price on shares of Paramount Resources from C$42.00 to C$43.00 in a research note on Friday, July 12th.

Paramount Resources Stock Performance

Shares of TSE POU opened at C$25.70 on Monday. The firm has a fifty day moving average price of C$28.09 and a 200-day moving average price of C$29.48. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.75 and a quick ratio of 0.68. The stock has a market cap of C$3.77 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 0.14 and a beta of 3.06. Paramount Resources has a 1 year low of C$24.51 and a 1 year high of C$33.80.

Paramount Resources (TSE:POU) last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.57 earnings per share (EPS) for the quarter. The firm had revenue of C$443.60 million during the quarter, compared to analysts’ expectations of C$468.00 million. Paramount Resources had a net margin of 19.66% and a return on equity of 10.03%.

Paramount Resources Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.00%. Paramount Resources’s payout ratio is currently 77.92%.

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.