Paramount Resources Ltd. (TSE:POU) Receives C$38.67 Average Price Target from Brokerages

Shares of Paramount Resources Ltd. (TSE:POU) have received an average recommendation of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is C$38.67.

Several analysts have recently issued reports on POU shares. Royal Bank of Canada boosted their price target on shares of Paramount Resources from C$34.00 to C$37.00 in a research report on Friday, November 15th. CIBC upped their target price on shares of Paramount Resources from C$38.00 to C$39.50 in a report on Friday, November 15th. Cibc World Mkts raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Scotiabank increased their target price on shares of Paramount Resources from C$44.00 to C$46.00 in a report on Friday, January 17th. Finally, Jefferies Financial Group reduced their target price on shares of Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating on the stock in a report on Thursday, December 19th.

Insider Transactions at Paramount Resources

In other Paramount Resources news, Senior Officer Michael S. Han sold 8,320 shares of Paramount Resources stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of C$30.86, for a total transaction of C$256,788.48. Also, insider Brenda Gail Riddell purchased 100,000 shares of the stock in a transaction on Monday, November 25th. The shares were purchased at an average cost of C$31.30 per share, for a total transaction of C$3,129,630.00. Over the last three months, insiders purchased 103,248 shares of company stock worth $3,231,616 and sold 88,320 shares worth $2,730,172. Company insiders own 45.36% of the company’s stock.

Paramount Resources Stock Performance

TSE POU opened at C$28.79 on Friday. The company’s 50 day moving average is C$30.70 and its 200-day moving average is C$28.85. Paramount Resources has a 12-month low of C$24.51 and a 12-month high of C$33.06. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 0.83. The firm has a market cap of C$4.22 billion, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04.

Paramount Resources (TSE:POU) last posted its quarterly earnings results on Thursday, November 7th. The company reported C$0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.92 by C($0.28). Paramount Resources had a net margin of 19.66% and a return on equity of 10.03%. Sell-side analysts predict that Paramount Resources will post 1.4075758 earnings per share for the current year.

Paramount Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 31st will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, January 15th. This represents a $1.80 dividend on an annualized basis and a yield of 6.25%. Paramount Resources’s dividend payout ratio is currently 76.27%.

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.