National Bankshares Raises Paramount Resources (TSE:POU) Price Target to C$40.00

Paramount Resources (TSE:POU - Free Report) had its target price boosted by National Bankshares from C$37.50 to C$40.00 in a research note published on Friday, BayStreet.CA reports. National Bankshares currently has an outperform rating on the stock.

Several other equities analysts have also commented on the company. Scotiabank reduced their price target on Paramount Resources from C$30.00 to C$29.00 and set an outperform rating on the stock in a research report on Thursday, March 7th. Royal Bank of Canada cut their target price on Paramount Resources from C$33.00 to C$32.00 and set a sector perform rating on the stock in a research report on Thursday, March 7th. CIBC cut their target price on Paramount Resources from C$32.50 to C$30.00 and set a neutral rating on the stock in a research report on Thursday, March 7th. ATB Capital cut their target price on Paramount Resources from C$37.00 to C$36.00 and set an outperform rating on the stock in a research report on Thursday, March 7th. Finally, Raymond James cut their target price on Paramount Resources from C$40.00 to C$36.00 and set an outperform rating on the stock in a research report on Friday, January 19th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of C$34.15.

Paramount Resources Price Performance

Paramount Resources stock traded up C$0.35 during midday trading on Friday, reaching C$29.15. 299,374 shares of the company were exchanged, compared to its average volume of 260,244. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.71. The company has a market capitalization of C$4.21 billion, a price-to-earnings ratio of 9.20, a P/E/G ratio of 0.14 and a beta of 3.31. The firm's 50-day simple moving average is C$28.00 and its 200-day simple moving average is C$27.89. Paramount Resources has a 1 year low of C$24.59 and a 1 year high of C$33.80.

Paramount Resources (TSE:POU - Get Free Report) last issued its earnings results on Wednesday, March 6th. The company reported C$0.75 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C$0.95 by C($0.20). Paramount Resources had a return on equity of 13.67% and a net margin of 26.13%. The firm had revenue of C$470.50 million for the quarter, compared to analysts' expectations of C$436.00 million. On average, analysts anticipate that Paramount Resources will post 2.5252525 EPS for the current year.

Paramount Resources Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be paid a $0.125 dividend. The ex-dividend date is Friday, April 12th. This represents a $1.50 annualized dividend and a dividend yield of 5.15%. Paramount Resources's payout ratio is 47.32%.

Insider Transactions at Paramount Resources

In other news, Senior Officer Bernard K. Lee sold 20,000 shares of the company's stock in a transaction on Friday, April 12th. The stock was sold at an average price of C$30.50, for a total value of C$610,000.00. In other news, Senior Officer Bernard K. Lee sold 20,000 shares of the company's stock in a transaction on Friday, April 12th. The stock was sold at an average price of C$30.50, for a total transaction of C$610,000.00. Also, Director Dirk Jungé sold 4,027 shares of the company's stock in a transaction on Thursday, April 4th. The shares were sold at an average price of C$28.56, for a total value of C$115,028.03. Over the last quarter, insiders sold 69,655 shares of company stock valued at $2,021,257. 45.91% of the stock is currently owned by corporate 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.