Paramount Resources Ltd. (TSE:POU) Given Average Rating of “Moderate Buy” by Brokerages

Paramount Resources Ltd. (TSE:POU) has been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is C$37.45.

Several research firms have recently weighed in on POU. CIBC lifted their price objective on shares of Paramount Resources from C$37.00 to C$38.00 in a research note on Monday, July 15th. Scotiabank boosted their price target on shares of Paramount Resources from C$42.00 to C$43.00 in a report on Friday, July 12th. Finally, BMO Capital Markets upped their price objective on shares of Paramount Resources from C$38.50 to C$40.00 in a report on Wednesday, July 3rd.

Paramount Resources Trading Down 0.4 %

POU stock opened at C$27.73 on Thursday. Paramount Resources has a 52 week low of C$24.59 and a 52 week high of C$33.80. The company’s 50-day simple moving average is C$29.47 and its 200 day simple moving average is C$29.75. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.75. The company has a market capitalization of C$4.07 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 0.14 and a beta of 3.08.

Paramount Resources (TSE:POU) last posted its quarterly earnings results on Thursday, August 1st. The company reported C$0.57 earnings per share for the quarter. Paramount Resources had a net margin of 19.66% and a return on equity of 10.03%. The company had revenue of C$443.60 million for the quarter, compared to the consensus estimate of C$468.00 million. As a group, sell-side analysts anticipate that Paramount Resources will post 1.4308081 earnings per share for the current year.

Paramount Resources Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were given a dividend of $0.15 per share. This represents a $1.80 annualized dividend and a dividend yield of 6.49%. The ex-dividend date of this dividend was Thursday, August 15th. Paramount Resources’s dividend payout ratio is currently 76.27%.

Insider Activity

In related news, Senior Officer Joerg Wittenberg sold 22,000 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of C$32.64, for a total transaction of C$718,080.00. In other Paramount Resources news, Senior Officer Joerg Wittenberg sold 22,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of C$32.64, for a total value of C$718,080.00. Also, Senior Officer Bernard K. Lee sold 5,000 shares of the company’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. In the last 90 days, insiders have sold 38,929 shares of company stock valued at $1,242,600. 45.36% of the stock is currently owned by insiders.

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.