Paramount Resources (TSE:POU) Reaches New 1-Year Low at $24.58

Paramount Resources Ltd. (TSE:POU) hit a new 52-week low during trading on Tuesday . The stock traded as low as C$24.58 and last traded at C$24.58, with a volume of 155664 shares traded. The stock had previously closed at C$25.61.

Analyst Ratings Changes

A number of brokerages recently weighed in on POU. 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. BMO Capital Markets increased their price target on shares of Paramount Resources from C$38.50 to C$40.00 in a report on Wednesday, July 3rd. Finally, CIBC lifted their price objective on shares of Paramount Resources from C$37.00 to C$38.00 in a report on Monday, July 15th. Three equities 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$37.45.

Paramount Resources Trading Down 2.1 %

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’s 50 day moving average is C$29.01 and its 200-day moving average is C$29.71. The company has a market capitalization of C$3.68 billion, a P/E ratio of 10.85, a P/E/G ratio of 0.14 and a beta of 3.06.

Paramount Resources (TSE:POU) last announced its earnings results 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 analyst estimates of C$468.00 million. Paramount Resources had a return on equity of 10.03% and a net margin of 19.66%. As a group, equities research analysts anticipate that Paramount Resources Ltd. will post 1.3419192 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, September 27th. Shareholders of record on Monday, September 16th will be given a dividend of $0.15 per share. This represents a $1.80 annualized dividend and a yield of 7.18%. The ex-dividend date is Monday, September 16th. Paramount Resources’s dividend payout ratio is currently 76.27%.

Insider Activity

In related news, Senior Officer Bernard K. Lee sold 5,000 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of C$30.94, for a total value of C$154,721.00. In other Paramount Resources news, Senior Officer John B. Williams sold 11,929 shares of Paramount Resources stock in a transaction on Monday, June 24th. The stock was sold at an average price of C$31.00, for a total transaction of C$369,799.00. Also, Senior Officer Bernard K. Lee sold 5,000 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of C$30.94, for a total value of C$154,721.00. Company insiders own 45.36% 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.