Paramount Resources Ltd. (TSE:POU) Receives Average Rating of “Moderate Buy” from Brokerages

Paramount Resources Ltd. (TSE:POU) has been given a consensus rating of “Moderate Buy” by the nine ratings firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong 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$38.67.

POU has been the topic of a number of research reports. Jefferies Financial Group reduced their target price on shares of Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Royal Bank of Canada upped their price objective on Paramount Resources from C$34.00 to C$37.00 in a research report on Friday, November 15th. Cormark upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. CIBC increased their price target on Paramount Resources from C$38.00 to C$39.50 in a report on Friday, November 15th. Finally, Cibc World Mkts raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th.

Insider Activity at Paramount Resources

In other news, Director Kimberley Elizabeth Lynch Proctor bought 3,000 shares of the stock in a transaction on Friday, November 22nd. The stock was acquired at an average cost of C$31.36 per share, for a total transaction of C$94,080.00. Also, Senior Officer David Blake Reid sold 68,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of C$30.90, for a total value of C$2,101,200.00. In the last 90 days, insiders purchased 103,248 shares of company stock worth $3,231,616 and sold 88,320 shares worth $2,730,172. 45.36% of the stock is currently owned by company insiders.

Paramount Resources Price Performance

TSE:POU opened at C$29.11 on Friday. The business’s 50-day moving average is C$30.78 and its 200 day moving average is C$28.91. Paramount Resources has a 12 month low of C$24.51 and a 12 month high of C$33.06. The company has a market capitalization of C$4.27 billion, a P/E ratio of 12.33, a P/E/G ratio of 0.14 and a beta of 3.04. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83.

Paramount Resources (TSE:POU) last issued its quarterly earnings data on Thursday, November 7th. The company reported C$0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.92 by C($0.28). Paramount Resources had a return on equity of 10.03% and a net margin of 19.66%. On average, equities research analysts forecast that Paramount Resources will post 1.4075758 earnings per share for the current fiscal year.

Paramount Resources Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 31st will be paid a $0.15 dividend. This represents a $1.80 annualized dividend and a yield of 6.18%. The ex-dividend date of this dividend is Wednesday, January 15th. Paramount Resources’s dividend payout ratio is presently 76.27%.

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.