Paramount Resources (TSE:POU) Hits New 12-Month High - Here's Why

Key Points

• Paramount Resources hit a new 52-week high of C$30.86 (last C$30.74) on Thursday with about 133,510 shares traded.
• Several analysts raised price targets in early March and the stock has a consensus rating of Moderate Buy with an average price target of C$31.22.
• Key fundamentals: market cap C$4.46 billion, P/E of 3.50, and a newly announced monthly dividend of C$0.05 (≈2.0% yield) while insiders recently sold shares but still own 45.36% of the company.

Paramount Resources Ltd. (TSE:POU - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The company traded as high as C$30.86 and last traded at C$30.74, with a volume of 133510 shares traded. The stock had previously closed at C$30.49.

Analyst Ratings Changes

POU has been the topic of a number of analyst reports. ATB Cormark Capital Markets lifted their target price on shares of Paramount Resources from C$28.00 to C$33.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 4th. Canadian Imperial Bank of Commerce lifted their target price on shares of Paramount Resources from C$25.50 to C$30.50 in a research report on Wednesday, March 4th. BMO Capital Markets raised their price target on shares of Paramount Resources from C$24.00 to C$32.00 and gave the stock an "outperform" rating in a report on Wednesday, March 4th. Jefferies Financial Group cut their price target on shares of Paramount Resources from C$29.00 to C$28.00 in a report on Tuesday, January 20th. Finally, National Bank Financial raised their price target on shares of Paramount Resources from C$32.00 to C$32.50 and gave the stock a "sector perform" rating in a report on Wednesday, March 4th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$31.22.

Paramount Resources Stock Performance

The firm has a market cap of C$4.46 billion, a P/E ratio of 3.50, a price-to-earnings-growth ratio of 0.14 and a beta of -0.05. The company has a current ratio of 3.77, a quick ratio of 0.68 and a debt-to-equity ratio of 0.94. The business's fifty day simple moving average is C$28.43 and its 200-day simple moving average is C$25.56.

Paramount Resources (TSE:POU - Get Free Report) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported C($0.03) earnings per share (EPS) for the quarter. The firm had revenue of C$262.50 million during the quarter. Paramount Resources had a return on equity of 48.07% and a net margin of 129.11%. As a group, sell-side analysts expect that Paramount Resources Ltd. will post 1.4075758 earnings per share for the current year.

Paramount Resources Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 30th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%. Paramount Resources's payout ratio is presently 6.83%.

Insider Buying and Selling at Paramount Resources

In other news, insider John B. Williams sold 6,800 shares of Paramount Resources stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of C$30.45, for a total transaction of C$207,060.00. Following the sale, the insider owned 171,285 shares of the company's stock, valued at approximately C$5,215,628.25. The trade was a 3.82% decrease in their position. Over the last 90 days, insiders have sold 18,000 shares of company stock worth $546,140. Insiders own 45.36% of the company's stock.

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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