Paramount Resources Ltd. (TSE:POU) to Issue Monthly Dividend of $0.05

Key Points

• Paramount Resources declared a monthly dividend of C$0.05 per share, equal to C$0.60 annually and a 1.9% yield. The ex-dividend date is October 15, and shareholders of record on October 30 are scheduled for payment that day.
• Paramount reported quarterly revenue of C$317.9 million and earnings of C$0.47 per share, with an 11.19% net margin and 4.30% return on equity.
• Analyst sentiment is moderately bullish: four analysts rate the stock a Buy and four rate it Hold, producing a consensus price target of C$34.35 versus an opening price of C$32.10.

Paramount Resources Ltd. (TSE:POU - Get Free Report) announced a monthly dividend on Thursday, October 15th. Stockholders of record on Friday, October 30th will be paid a dividend of $0.05 per share on Friday, October 30th. This represents a $0.60 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Thursday, October 15th.

Paramount Resources Stock Performance

POU opened at C$32.10 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.87 and a quick ratio of 0.68. The company has a market cap of C$4.68 billion, a price-to-earnings ratio of 41.15, a price-to-earnings-growth ratio of 0.14 and a beta of -0.16. The firm has a 50 day simple moving average of C$31.26 and a 200 day simple moving average of C$29.96. Paramount Resources has a fifty-two week low of C$21.69 and a fifty-two week high of C$33.44.

Paramount Resources (TSE:POU - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported C$0.47 earnings per share for the quarter. Paramount Resources had a net margin of 11.19% and a return on equity of 4.30%. The business had revenue of C$317.90 million for the quarter. On average, sell-side analysts anticipate that Paramount Resources will post 1.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on POU shares. BMO Capital Markets upped their target price on shares of Paramount Resources from C$35.00 to C$37.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. ATB Cormark Capital Markets increased their price target on Paramount Resources from C$35.00 to C$37.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. Scotiabank upgraded Paramount Resources to a "hold" rating in a research report on Friday, June 26th. Royal Bank Of Canada raised their price target on 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. Finally, Scotia lifted 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. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Paramount Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of C$34.35.

About Paramount Resources

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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