Paramount Resources Ltd. (TSE:POU) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analyst sentiment is moderately positive: Eight analysts rate Paramount Resources “Moderate Buy,” split evenly between four buy and four hold recommendations. The average 12-month price target is C$34.35.
• Recent targets were raised: RBC, Scotia, ATB Cormark and BMO lifted their price objectives to between C$36 and C$37, while maintaining ratings ranging from hold to outperform.
• Financial and shareholder updates: Paramount reported quarterly EPS of C$0.47 on C$317.9 million in revenue and declared a monthly dividend of C$0.05 per share, equivalent to an approximately 1.9% annualized yield.

Paramount Resources Ltd. (TSE:POU - Get Free Report) has been given an average rating of "Moderate Buy" by the eight analysts that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is C$34.35.

Several equities research analysts have recently weighed in on POU shares. Royal Bank Of Canada boosted their target price on shares of Paramount Resources from C$35.00 to C$37.00 and gave the stock a "sector perform" rating in a research report on Friday, August 7th. Scotia raised their price objective on Paramount Resources from C$34.00 to C$36.00 and gave the stock a "sector perform" rating in a research note on Friday, August 7th. Scotiabank raised shares of Paramount Resources to a "hold" rating in a report on Friday, June 26th. ATB Cormark Capital Markets increased their price objective on shares of Paramount Resources from C$35.00 to C$37.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Finally, BMO Capital Markets upped their price objective on Paramount Resources from C$35.00 to C$37.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th.

Paramount Resources Price Performance

Paramount Resources stock opened at C$32.21 on Friday. The firm has a fifty day moving average of C$30.86 and a 200-day moving average of C$29.85. The company has a quick ratio of 0.68, a current ratio of 1.87 and a debt-to-equity ratio of 0.90. Paramount Resources has a 52-week low of C$20.19 and a 52-week high of C$33.44. The firm has a market capitalization of C$4.70 billion, a P/E ratio of 41.29, a PEG ratio of 0.14 and a beta of -0.26.

Paramount Resources (TSE:POU - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported C$0.47 earnings per share for the quarter. The business had revenue of C$317.90 million during the quarter. Paramount Resources had a net margin of 11.19% and a return on equity of 4.30%. As a group, analysts predict that Paramount Resources will post 1.4075758 EPS for the current year.

Paramount Resources Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th will be given a dividend of $0.05 per share. This represents a c) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Tuesday, September 15th. Paramount Resources's payout ratio is 76.92%.

Insider Transactions at Paramount Resources

In other news, Director James Geral Bell sold 2,050 shares of the company's stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of C$27.17, for a total value of C$55,698.50. 45.36% of the stock is owned by corporate insiders.

Paramount Resources Company Profile

Paramount is an independent, publicly traded Canadian energy company that explores for and develops both conventional and unconventional petroleum and natural gas, including longer-term strategic exploration and pre-development plays. The Company's principal properties are located in Alberta and British Columbia. Paramount's class A common shares are listed on the Toronto Stock Exchange under the symbol "POU".

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