Paramount Resources (TSE:POU) Hits New 12-Month High - What's Next?

Paramount Resources Ltd. (TSE:POU - Get Free Report) shares hit a new 52-week high on Wednesday . The stock traded as high as C$31.42 and last traded at C$31.32, with a volume of 136152 shares. The stock had previously closed at C$31.09.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Roth Mkm set a C$33.00 price target on shares of Paramount Resources and gave the company a "buy" rating in a report on Wednesday, March 4th. BMO Capital Markets upped their price target on shares of Paramount Resources from C$24.00 to C$32.00 and gave the company an "outperform" rating in a report on Wednesday, March 4th. Scotiabank upped their price target on shares of Paramount Resources from C$29.00 to C$31.00 and gave the company an "outperform" rating in a report on Wednesday, January 21st. Royal Bank Of Canada upped their price target on shares of Paramount Resources from C$26.00 to C$30.00 and gave the company a "sector perform" rating in a report on Wednesday, March 4th. Finally, National Bank Financial upped their price target on shares of Paramount Resources from C$32.00 to C$32.50 and gave the company a "sector perform" rating in a report on Wednesday, March 4th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$31.22.

Paramount Resources Stock Performance

The company has a quick ratio of 0.68, a current ratio of 3.77 and a debt-to-equity ratio of 0.94. The company has a market cap of C$4.54 billion, a PE ratio of 3.57, a P/E/G ratio of 0.14 and a beta of -0.03. The stock's 50 day simple moving average is C$28.62 and its two-hundred day simple moving average is C$25.71.

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

Paramount Resources Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a c) dividend on an annualized basis and a yield of 1.9%. Paramount Resources's dividend payout ratio (DPR) is currently 6.83%.

Insider Activity

In other news, insider John B. Williams sold 6,800 shares of the stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of C$30.45, for a total value of C$207,060.00. Following the completion of the sale, the insider owned 171,285 shares of the company's stock, valued at C$5,215,628.25. This represents a 3.82% decrease in their ownership of the stock. Insiders have sold a total of 18,000 shares of company stock valued at $546,140 over the last ninety days. 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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