Paramount Resources (TSE:POU) Price Target Raised to C$37.00 at CIBC

Paramount Resources (TSE:POU) had its price objective boosted by CIBC from C$35.00 to C$37.00 in a research note released on Friday morning, BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

Several other research firms have also issued reports on POU. Royal Bank of Canada increased their target price on shares of Paramount Resources from C$34.00 to C$36.00 and gave the stock a sector perform rating in a report on Friday. Stifel Nicolaus upped their price target on shares of Paramount Resources from C$36.00 to C$37.00 and gave the stock a buy rating in a research report on Friday. BMO Capital Markets raised their price objective on shares of Paramount Resources from C$37.00 to C$38.50 and gave the company an outperform rating in a research report on Friday. Scotiabank lowered their target price on shares of Paramount Resources from C$30.00 to C$29.00 and set an outperform rating on the stock in a research note on Thursday, March 7th. Finally, Raymond James cut their price target on Paramount Resources from C$40.00 to C$36.00 and set an outperform rating for the company in a research note on Friday, January 19th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of C$35.80.

Paramount Resources Trading Up 0.2 %

Shares of POU stock opened at C$32.05 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.71 and a quick ratio of 0.68. The company has a market cap of C$4.63 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.14 and a beta of 3.23. Paramount Resources has a 1 year low of C$24.59 and a 1 year high of C$33.80. The firm has a fifty day moving average price of C$28.80 and a 200-day moving average price of C$27.95.

Paramount Resources (TSE:POU) last released its quarterly earnings results on Wednesday, March 6th. The company reported C$0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.95 by C($0.20). The company had revenue of C$470.50 million for the quarter, compared to the consensus estimate of C$436.00 million. Paramount Resources had a net margin of 26.13% and a return on equity of 13.67%. As a group, equities analysts predict that Paramount Resources will post 2.3708207 earnings per share for the current year.

Paramount Resources Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $1.80 annualized dividend and a yield of 5.62%. This is a boost from Paramount Resources’s previous monthly dividend of $0.13. Paramount Resources’s payout ratio is presently 47.32%.

Insider Activity

In other news, Director Dirk Jungé sold 4,027 shares of Paramount Resources stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of C$28.56, for a total value of C$115,028.03. In other news, Director Dirk Jungé sold 4,027 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of C$28.56, for a total transaction of C$115,028.03. Also, Senior Officer Michael S. Han sold 30,040 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of C$28.00, for a total transaction of C$841,120.00. Insiders sold a total of 69,655 shares of company stock worth $2,021,257 over the last 90 days. Corporate insiders own 45.75% 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.