Paramount Resources Ltd. (TSE:POU) Receives C$34.20 Average Target Price from Brokerages

Shares of Paramount Resources Ltd. (TSE:POU - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the nine analysts that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$34.20.

Several research analysts have weighed in on the company. Raymond James lowered 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 report on Friday, January 19th. National Bankshares decreased their target price on Paramount Resources from C$40.00 to C$37.50 and set an "outperform" rating on the stock in a report on Thursday, March 7th. Royal Bank of Canada decreased 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. Scotiabank decreased their target price on 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. Finally, Stifel Nicolaus decreased their target price on Paramount Resources from C$33.50 to C$33.00 and set a "buy" rating on the stock in a report on Thursday, March 7th.

Paramount Resources Stock Up 0.6 %

Shares of TSE:POU traded up C$0.16 during trading on Monday, hitting C$27.65. 143,015 shares of the company were exchanged, compared to its average volume of 249,429. The stock has a market cap of C$3.99 billion, a price-to-earnings ratio of 8.72, a P/E/G ratio of 0.14 and a beta of 3.31. Paramount Resources has a fifty-two week low of C$24.59 and a fifty-two week high of C$33.80. The firm has a fifty day moving average price of C$27.24 and a two-hundred day moving average price of C$28.15. 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 quarterly earnings results on Wednesday, March 6th. The company reported C$0.75 earnings per share for the quarter, missing the consensus estimate of C$0.95 by C($0.20). The company had revenue of C$470.50 million for the quarter, compared to analyst estimates of C$436.00 million. Paramount Resources had a return on equity of 13.67% and a net margin of 26.13%. As a group, research analysts anticipate that Paramount Resources will post 2.3138075 earnings per share for the current fiscal year.

Paramount Resources Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 30th will be issued a $0.125 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 5.42%. The ex-dividend date of this dividend is Friday, April 12th. Paramount Resources's dividend payout ratio is 47.32%.

Insider Buying and Selling at Paramount Resources

In other Paramount Resources news, Senior Officer Michael S. Han sold 30,040 shares of the company's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of C$28.00, for a total value of C$841,120.00. 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.