Paramount Resources Ltd. (TSE:POU) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of Paramount Resources Ltd. (TSE:POU - Get Free Report) have earned an average rating of "Moderate Buy" from the ten analysts that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is C$37.25.

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group lowered their price objective on shares of Paramount Resources from C$36.00 to C$29.00 and set a "buy" rating on the stock in a research note on Monday, September 16th. Cormark upgraded shares of Paramount Resources to a "hold" rating in a research note on Monday, September 23rd. CIBC lifted their price target on shares of Paramount Resources from C$37.00 to C$38.00 in a research note on Monday, July 15th. Scotiabank lifted their price target on shares of Paramount Resources from C$42.00 to C$43.00 in a research note on Friday, July 12th. Finally, BMO Capital Markets lifted their price target on shares of Paramount Resources from C$38.50 to C$40.00 in a research note on Wednesday, July 3rd.

Paramount Resources Stock Performance

Shares of Paramount Resources stock traded up C$0.03 during midday trading on Friday, hitting C$26.65. The company had a trading volume of 497,948 shares, compared to its average volume of 269,275. The business's 50 day simple moving average is C$26.98 and its two-hundred day simple moving average is C$29.44. The stock has a market cap of C$3.91 billion, a PE ratio of 11.29, a P/E/G ratio of 0.14 and a beta of 3.04. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.75 and a quick ratio of 0.68. Paramount Resources has a 1-year low of C$24.51 and a 1-year high of C$33.80.

Paramount Resources (TSE:POU - Get Free Report) 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 for the quarter, compared to the consensus estimate of C$468.00 million. Paramount Resources had a net margin of 19.66% and a return on equity of 10.03%. As a group, equities analysts predict that Paramount Resources will post 1.4075758 EPS for the current fiscal year.

Paramount Resources Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $1.80 annualized dividend and a dividend yield of 6.75%. Paramount Resources's dividend payout ratio is presently 76.27%.

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.