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

Paramount Resources Ltd. (TSE:POU) declared a monthly dividend on Thursday, August 1st, Zacks reports. Investors of record on Thursday, August 15th will be paid a dividend of 0.15 per share on Friday, August 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.59%. The ex-dividend date of this dividend is Thursday, August 15th.

Paramount Resources Price Performance

Shares of TSE POU traded down C$1.14 during trading hours on Friday, reaching C$27.32. 55,365 shares of the stock traded hands, compared to its average volume of 235,174. The company has a market capitalization of C$3.99 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 0.14 and a beta of 3.19. The company has a quick ratio of 0.68, a current ratio of 0.67 and a debt-to-equity ratio of 0.84. Paramount Resources has a 52-week low of C$24.59 and a 52-week high of C$33.80. The company’s 50-day simple moving average is C$31.06 and its two-hundred day simple moving average is C$29.43.

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

Insider Transactions at Paramount Resources

In other news, Senior Officer John B. Williams sold 2,532 shares of Paramount Resources stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of C$31.83, for a total value of C$80,593.56. In related news, Senior Officer John B. Williams sold 2,532 shares of Paramount Resources stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of C$31.83, for a total transaction of C$80,593.56. Also, Senior Officer Joerg Wittenberg sold 22,000 shares of Paramount Resources stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of C$32.64, for a total value of C$718,080.00. In the last three months, insiders have sold 85,661 shares of company stock worth $2,750,991. 45.57% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on POU. Stifel Nicolaus lifted their price target on Paramount Resources from C$36.00 to C$37.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. CIBC lifted their price target on Paramount Resources from C$37.00 to C$38.00 in a research note on Monday, July 15th. BMO Capital Markets lifted their price target on Paramount Resources from C$38.50 to C$40.00 in a research note on Wednesday, July 3rd. National Bankshares lifted their price target on Paramount Resources from C$37.50 to C$40.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Finally, Scotiabank lifted their price target on Paramount Resources from C$42.00 to C$43.00 in a research note on Friday, July 12th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Paramount Resources has a consensus rating of “Moderate Buy” and an average price target of C$37.45.

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.