CIBC Raises Paramount Resources (TSE:POU) Price Target to C$35.00

Paramount Resources (TSE:POU - Free Report) had its price objective increased by CIBC from C$30.00 to C$35.00 in a research note published on Monday morning, BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

Other research analysts have also issued research reports about the company. Royal Bank of Canada dropped 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 report on Thursday, March 7th. National Bankshares lifted their price objective on Paramount Resources from C$37.50 to C$40.00 and gave the stock an outperform rating in a report on Friday. Scotiabank reduced their price target on shares of Paramount Resources from C$30.00 to C$29.00 and set an outperform rating on the stock in a report on Thursday, March 7th. Jefferies Financial Group dropped their price objective on Paramount Resources from C$33.00 to C$31.00 in a research report on Thursday, March 7th. Finally, Raymond James reduced their price target on Paramount Resources from C$40.00 to C$36.00 and set an outperform rating on the stock in a research note on Friday, January 19th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Paramount Resources has a consensus rating of Moderate Buy and a consensus target price of C$34.65.

Paramount Resources Stock Up 0.9 %

TSE:POU traded up C$0.25 during trading hours on Monday, hitting C$29.40. The company's stock had a trading volume of 186,782 shares, compared to its average volume of 259,303. The stock has a fifty day moving average of C$28.06 and a 200-day moving average of C$27.84. The stock has a market capitalization of C$4.25 billion, a P/E ratio of 9.27, a price-to-earnings-growth ratio of 0.14 and a beta of 3.31. Paramount Resources has a 52-week low of C$24.59 and a 52-week high of C$33.80. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83.

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

Paramount Resources Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be given a $0.125 dividend. This represents a $1.50 annualized dividend and a dividend yield of 5.10%. The ex-dividend date is Friday, April 12th. Paramount Resources's payout ratio is currently 47.32%.

Insider Activity

In other Paramount Resources news, Senior Officer Michael S. Han sold 30,040 shares of the business's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of C$28.00, for a total transaction of C$841,120.00. 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 shares were sold at an average price of C$30.50, for a total value of C$610,000.00. Also, Senior Officer Michael S. Han sold 30,040 shares of Paramount Resources stock in a transaction on Thursday, March 7th. The stock was sold at an average price of C$28.00, for a total transaction of C$841,120.00. In the last 90 days, insiders have sold 69,655 shares of company stock valued at $2,021,257. Company insiders own 45.91% of the company's stock.

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.