Paramount Resources (TSE:POU) Price Target Cut to C$35.00

Paramount Resources (TSE:POUGet Rating) had its target price lowered by National Bankshares from C$45.00 to C$35.00 in a report issued on Thursday, BayStreet.CA reports.

Several other research firms have also commented on POU. Cormark raised their price target on shares of Paramount Resources from C$34.00 to C$38.00 and gave the company a buy rating in a report on Monday, March 21st. Royal Bank of Canada boosted their price target on shares of Paramount Resources from C$30.00 to C$33.00 and gave the company a sector perform rating in a report on Thursday, March 3rd. Raymond James boosted their price target on shares of Paramount Resources from C$33.00 to C$37.00 and gave the stock an outperform rating in a research report on Friday, March 25th. Scotiabank boosted their price objective on Paramount Resources from C$25.00 to C$31.00 in a report on Tuesday, March 8th. Finally, CIBC lifted their target price on Paramount Resources from C$30.00 to C$35.00 and gave the company a neutral rating in a research note on Friday, March 4th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Paramount Resources has a consensus rating of Hold and a consensus price target of C$31.83.

Paramount Resources stock opened at C$30.98 on Thursday. The company has a current ratio of 0.61, a quick ratio of 0.56 and a debt-to-equity ratio of 15.67. The stock has a market cap of C$4.31 billion and a P/E ratio of 18.51. The company has a 50-day moving average price of C$28.75 and a 200 day moving average price of C$24.72. Paramount Resources has a 12-month low of C$9.32 and a 12-month high of C$32.65.

Paramount Resources (TSE:POUGet Rating) last issued its quarterly earnings results on Wednesday, March 2nd. The company reported C$0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$0.52 by C$0.37. The business had revenue of C$434.30 million for the quarter. As a group, analysts forecast that Paramount Resources will post 2.6099999 EPS for the current year.

The business also recently declared a monthly dividend, which will be paid on Friday, April 29th. Shareholders of record on Friday, April 29th will be given a $0.08 dividend. The ex-dividend date is Wednesday, April 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.10%. Paramount Resources’s dividend payout ratio (DPR) is presently 15.53%.

In other news, Director Wilfred Arthur Gobert sold 16,090 shares of Paramount Resources stock in a transaction dated Monday, April 11th. The stock was sold at an average price of C$30.51, for a total transaction of C$490,918.77. Following the completion of the sale, the director now owns 36,122 shares in the company, valued at approximately C$1,102,111.12. Also, Senior Officer Joerg Wittenberg sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of C$30.43, for a total value of C$304,339.00. Following the transaction, the insider now directly owns 13,681 shares in the company, valued at C$416,366.19. Over the last ninety days, insiders have sold 72,819 shares of company stock worth $2,233,415.

Paramount Resources Company Profile (Get Rating)

Paramount Resources Ltd., an independent energy company, explores for, develops, produces, and markets natural gas, crude oil, and natural gas liquids in Canada. The company's principal properties are the Montney and Duvernay developments located in Alberta and British Columbia. It also invests in public and private corporations.

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Analyst Recommendations for Paramount Resources (TSE:POU)

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