Paramount Resources (TSE:POU) Price Target Cut to C$29.00

Paramount Resources (TSE:POU) had its price objective reduced by Jefferies Financial Group from C$36.00 to C$29.00 in a report released on Monday, BayStreet.CA reports. They currently have a buy rating on the stock.

POU has been the subject of several other research reports. Scotiabank boosted their price target on Paramount Resources from C$42.00 to C$43.00 in a research note on Friday, July 12th. BMO Capital Markets upped their price target on Paramount Resources from C$38.50 to C$40.00 in a report on Wednesday, July 3rd. Finally, CIBC upped their price target on Paramount Resources from C$37.00 to C$38.00 in a report on Monday, July 15th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Paramount Resources currently has an average rating of Moderate Buy and an average target price of C$37.25.

Paramount Resources Stock Up 1.3 %

Shares of TSE:POU opened at C$25.69 on Monday. The stock has a fifty day simple moving average of C$28.19 and a two-hundred day simple moving average of C$29.51. The stock has a market capitalization of C$3.77 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 0.14 and a beta of 3.06. Paramount Resources has a 12-month low of C$24.51 and a 12-month high of C$33.80. 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 announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.57 earnings per share (EPS) for the quarter. The business had revenue of C$443.60 million during the quarter, compared to analysts’ expectations of C$468.00 million. Paramount Resources had a return on equity of 10.03% and a net margin of 19.66%.

Paramount Resources Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be given a dividend of $0.15 per share. This represents a $1.80 dividend on an annualized basis and a yield of 7.01%. The ex-dividend date of this dividend is Monday, September 16th. Paramount Resources’s dividend payout ratio (DPR) is presently 77.92%.

Insider Activity at Paramount Resources

In related news, Senior Officer John B. Williams sold 11,929 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of C$31.00, for a total transaction of C$369,799.00. 45.36% of the stock is owned by company insiders.

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.