Paramount Resources Ltd. (TSE:POU - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$28.81 and traded as high as C$29.44. Paramount Resources shares last traded at C$29.31, with a volume of 819,665 shares trading hands.
Analysts Set New Price Targets
A number of research firms have recently issued reports on POU. Jefferies Financial Group cut their price objective on Paramount Resources from C$37.00 to C$35.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Scotiabank increased their price target on shares of Paramount Resources from C$44.00 to C$46.00 in a research report on Friday, January 17th. Royal Bank of Canada lifted their price target on shares of Paramount Resources from C$34.00 to C$37.00 in a research note on Friday, November 15th. CIBC increased their target price on shares of Paramount Resources from C$38.00 to C$39.50 in a report on Friday, November 15th. Finally, Cibc World Mkts upgraded shares of Paramount Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$38.67.
Get Our Latest Stock Analysis on Paramount Resources
Paramount Resources Stock Performance
The company has a market cap of C$4.71 billion, a PE ratio of 13.61, a P/E/G ratio of 0.14 and a beta of 3.04. The business has a fifty day moving average of C$30.53 and a 200-day moving average of C$28.82. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported C$0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C$0.92 by C($0.28). Paramount Resources had a net margin of 19.66% and a return on equity of 10.03%. Equities research analysts anticipate that Paramount Resources Ltd. will post 1.4075758 earnings per share for the current fiscal year.
Paramount Resources Cuts Dividend
The business also recently declared a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 28th will be paid a $0.05 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Thursday, February 20th. Paramount Resources's payout ratio is currently 76.27%.
Insider Transactions at Paramount Resources
In other news, Senior Officer Michael S. Han sold 8,320 shares of Paramount Resources stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of C$30.86, for a total transaction of C$256,788.48. Also, insider Brenda Gail Riddell acquired 100,000 shares of Paramount Resources stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average cost of C$31.30 per share, with a total value of C$3,129,630.00. In the last quarter, insiders bought 103,248 shares of company stock valued at $3,231,616 and sold 88,320 shares valued at $2,730,172. Corporate insiders own 45.36% of the company's stock.
Paramount Resources Company Profile
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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.
See Also
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