Brokerages Set Paramount Resources Ltd. (TSE:POU) Price Target at C$37.45

Paramount Resources Ltd. (TSE:POU) has received a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is C$37.45.

Several equities analysts have recently issued reports on POU shares. Royal Bank of Canada lifted their price target on Paramount Resources from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a research note on Friday, May 3rd. National Bankshares lifted their price target on Paramount Resources from C$37.50 to C$40.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. 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. CIBC lifted their price target on Paramount Resources from C$37.00 to C$38.00 in a research note on Monday, July 15th. 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.

Insiders Place Their Bets

In other news, Senior Officer Bernard K. Lee sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of C$30.94, for a total value of C$154,721.00. In other news, Senior Officer Bernard K. Lee sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of C$30.94, for a total transaction of C$154,721.00. Also, Senior Officer John B. Williams sold 11,929 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$31.00, for a total transaction of C$369,799.00. Insiders have sold a total of 67,661 shares of company stock worth $2,166,377 in the last 90 days. 45.57% of the stock is currently owned by corporate insiders.

Paramount Resources Stock Performance

POU opened at C$27.16 on Friday. Paramount Resources has a 12-month low of C$24.59 and a 12-month high of C$33.80. The stock has a market cap of C$3.97 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 0.14 and a beta of 3.19. The business has a 50 day moving average of C$30.66 and a 200-day moving average of C$29.50. 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 Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 30th will be paid a dividend of $0.15 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.63%. The ex-dividend date is Thursday, August 15th. Paramount Resources’s dividend payout ratio (DPR) is 78.26%.

Paramount Resources Company Profile

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.