Shares of Paramount Resources Ltd. (TSE:POU – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is C$34.35.
Several analysts have recently issued reports on POU shares. Royal Bank Of Canada upped their price objective on Paramount Resources from C$35.00 to C$37.00 and gave the stock a “sector perform” rating in a report on Friday. Raymond James Financial upped their price target on shares of Paramount Resources from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. BMO Capital Markets increased their price objective on shares of Paramount Resources from C$35.00 to C$37.00 and gave the company an “outperform” rating in a research report on Friday. Scotia lifted their price objective on shares of Paramount Resources from C$34.00 to C$36.00 and gave the stock a “sector perform” rating in a research note on Friday. Finally, ATB Cormark Capital Markets lifted their price objective on shares of Paramount Resources from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a research note on Friday.
Get Our Latest Report on Paramount Resources
Paramount Resources Trading Down 2.1%
Paramount Resources (TSE:POU – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported C$0.47 earnings per share for the quarter. The business had revenue of C$317.90 million during the quarter. Paramount Resources had a return on equity of 1.96% and a net margin of 5.90%. On average, analysts predict that Paramount Resources will post 1.4075758 EPS for the current fiscal year.
Paramount Resources Announces Dividend
The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 31st will be given a dividend of $0.05 per share. The ex-dividend date is Monday, August 17th. This represents a c) dividend on an annualized basis and a yield of 2.0%. Paramount Resources’s dividend payout ratio is 150.00%.
Key Stories Impacting Paramount Resources
Here are the key news stories impacting Paramount Resources this week:
- Positive Sentiment: Analysts raised price targets: Scotia increased its target to C$36 from C$34 while maintaining a “sector perform” rating. BMO Capital Markets and ATB Cormark raised their targets to C$37 from C$35 and kept “outperform” ratings. Royal Bank of Canada also lifted its target to C$37 but retained a “sector perform” view. The revised targets imply approximately 19.5% to 22.8% upside from the referenced C$30.13 price. BayStreet analyst ratings
- Positive Sentiment: Monthly dividend announced: Paramount declared a C$0.05-per-share monthly dividend, payable August 31 to shareholders of record August 31. The dividend equates to an annualized payout of approximately C$0.60 per share and a reported 2.0% yield. The ex-dividend date is August 17.
- Neutral Sentiment: Analyst consensus remains favorable: Paramount received an average analyst recommendation of “Moderate Buy,” suggesting broad support but not an overwhelmingly bullish consensus. Paramount Resources analyst recommendation
- Neutral Sentiment: Quarterly results reported: Paramount posted earnings of C$0.47 per share on revenue of C$317.90 million. Net margin was 5.90% and return on equity was 1.96%. The results confirm continued profitability, although the reported figures alone do not indicate whether the company exceeded market expectations. Paramount Resources quarterly results
Insider Buying and Selling at Paramount Resources
In other news, Director James Geral Bell sold 2,050 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of C$27.17, for a total value of C$55,698.50. Also, Director Dirk Jungé sold 8,850 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of C$30.97, for a total transaction of C$274,084.50. Following the transaction, the director owned 57,915 shares in the company, valued at C$1,793,627.55. This trade represents a 13.26% decrease in their position. Over the last 90 days, insiders bought 10,148 shares of company stock valued at $308,401 and sold 44,800 shares valued at $1,388,875. 45.36% of the stock is currently owned by company insiders.
About Paramount Resources
Paramount is an independent, publicly traded Canadian energy company that explores for and develops both conventional and unconventional petroleum and natural gas, including longer-term strategic exploration and pre-development plays. The Company’s principal properties are located in Alberta and British Columbia. Paramount’s class A common shares are listed on the Toronto Stock Exchange under the symbol “POU”.
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