Paramount Resources Ltd. (POU) to Issue Monthly Dividend of $0.15 on July 31st

Paramount Resources Ltd. (TSE:POU) announced a monthly dividend on Tuesday, July 2nd, Zacks reports. Stockholders of record on Monday, July 15th will be given a dividend of 0.15 per share on Wednesday, July 31st. This represents a $1.80 annualized dividend and a dividend yield of 5.67%. The ex-dividend date is Monday, July 15th.

Paramount Resources Price Performance

POU stock traded up C$0.14 during midday trading on Thursday, reaching C$31.76. 5,210 shares of the company’s stock traded hands, compared to its average volume of 240,610. The company has a 50-day simple moving average of C$31.71 and a two-hundred day simple moving average of C$28.81. The company has a quick ratio of 0.68, a current ratio of 0.67 and a debt-to-equity ratio of 0.84. Paramount Resources has a 1-year low of C$24.59 and a 1-year high of C$33.80. The company has a market cap of C$4.64 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 0.14 and a beta of 3.19.

Paramount Resources (TSE:POU) last posted its quarterly earnings data on Thursday, May 2nd. The company reported C$0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.59 by C($0.13). Paramount Resources had a return on equity of 9.92% and a net margin of 19.97%. The firm had revenue of C$452.30 million for the quarter, compared to analyst estimates of C$415.00 million. On average, analysts anticipate that Paramount Resources will post 1.8292264 earnings per share for the current year.

Insider Activity

In related news, Director James Geral Bell sold 6,666 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of C$29.03, for a total value of C$193,513.98. In related news, Senior Officer John B. Williams sold 8,000 shares of the firm’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, Director James Geral Bell sold 6,666 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of C$29.03, for a total value of C$193,513.98. Insiders sold a total of 120,327 shares of company stock worth $3,791,305 over the last quarter. Insiders own 45.57% of the company’s stock.

Analyst Upgrades and Downgrades

POU has been the subject of a number of research analyst reports. Stifel Nicolaus boosted their target price on Paramount Resources from C$36.00 to C$37.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Scotiabank dropped their target price on shares of 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. BMO Capital Markets upped their price target on shares of Paramount Resources from C$38.50 to C$40.00 in a report on Wednesday. Cormark lowered shares of Paramount Resources from a “buy” rating to a “market perform” rating and dropped their price objective for the stock from C$40.00 to C$37.50 in a report on Thursday, March 7th. Finally, ATB Capital cut their price objective on shares of Paramount Resources from C$37.00 to C$36.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Paramount Resources has a consensus rating of “Moderate Buy” and an average price target of C$35.95.

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.