Paramount Resources Ltd. (TSE:POU) Announces Monthly Dividend of $0.15

Paramount Resources Ltd. (TSE:POU) announced a monthly dividend on Tuesday, July 2nd, Zacks reports. Stockholders of record on Monday, July 15th will be given a dividend of 0.15 per share on Wednesday, July 31st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date is Monday, July 15th.

Paramount Resources Stock Up 0.6 %

Shares of TSE POU traded up C$0.20 during mid-day trading on Thursday, reaching C$31.82. The company had a trading volume of 4,810 shares, compared to its average volume of 240,605. The stock has a fifty day moving average of C$31.71 and a two-hundred day moving average of C$28.81. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.68 and a current ratio of 0.67. The company has a market capitalization of C$4.65 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 0.14 and a beta of 3.19. Paramount Resources has a 12-month low of C$24.59 and a 12-month high of C$33.80.

Paramount Resources (TSE:POU) last posted its quarterly earnings results on Thursday, May 2nd. The company reported C$0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.59 by C($0.13). The company had revenue of C$452.30 million during the quarter, compared to analysts’ expectations of C$415.00 million. Paramount Resources had a return on equity of 9.92% and a net margin of 19.97%. As a group, equities research analysts expect that Paramount Resources will post 1.8292264 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on POU. Scotiabank cut their price objective on shares of 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 raised their price objective on shares of Paramount Resources from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a research report on Friday, May 3rd. Stifel Nicolaus raised their price objective on shares of Paramount Resources from C$36.00 to C$37.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Jefferies Financial Group cut their price objective on shares of Paramount Resources from C$33.00 to C$31.00 in a research report on Thursday, March 7th. Finally, BMO Capital Markets increased their price target on Paramount Resources from C$38.50 to C$40.00 in a report on Wednesday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$35.95.

Insider Transactions at Paramount Resources

In other news, Senior Officer John B. Williams sold 2,532 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of C$31.83, for a total value of C$80,593.56. In other news, Senior Officer John B. Williams sold 2,532 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of C$31.83, for a total value of C$80,593.56. Also, Senior Officer Bernard K. Lee sold 20,000 shares of the firm’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. Over the last quarter, insiders have sold 120,327 shares of company stock worth $3,791,305. Insiders own 45.57% 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.