FY2023 EPS Estimates for Paramount Resources Ltd. (TSE:POU) Increased by Stifel Firstegy

Paramount Resources Ltd. (TSE:POUGet Rating) – Research analysts at Stifel Firstegy upped their FY2023 earnings estimates for shares of Paramount Resources in a report issued on Thursday, April 21st. Stifel Firstegy analyst C. Kwong now anticipates that the company will post earnings per share of $5.02 for the year, up from their prior forecast of $4.73.

Several other analysts have also recently issued reports on the company. Raymond James increased their target price on Paramount Resources from C$33.00 to C$37.00 and gave the company an “outperform” rating in a research report on Friday, March 25th. National Bank Financial lifted their target price on Paramount Resources to C$30.00 and gave the company a “sector perform” rating in a research note on Thursday, January 6th. Scotiabank boosted their target price on shares of Paramount Resources from C$25.00 to C$31.00 in a report on Tuesday, March 8th. Royal Bank of Canada raised 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. Finally, Cormark boosted their price objective on shares of Paramount Resources from C$38.00 to C$43.00 and gave the stock a “buy” rating in a research note on Monday, April 18th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$32.39.

TSE:POU opened at C$28.77 on Monday. The firm has a market cap of C$4.00 billion and a P/E ratio of 17.19. Paramount Resources has a one year low of C$9.38 and a one year high of C$33.19. The company has a debt-to-equity ratio of 15.67, a quick ratio of 0.56 and a current ratio of 0.61. The firm has a 50-day simple moving average of C$29.34 and a 200-day simple moving average of C$25.32.

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 consensus estimate of C$0.52 by C$0.37. The business had revenue of C$434.30 million during the quarter.

In related news, Director Wilfred Arthur Gobert sold 16,090 shares of the business’s stock in a transaction that occurred on 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 directly owns 36,122 shares in the company, valued at C$1,102,111.12. Also, Director Robert M. Macdonald sold 3,000 shares of the stock in a transaction dated Tuesday, April 19th. The shares were sold at an average price of C$32.00, for a total transaction of C$96,000.00. Following the completion of the sale, the director now owns 2,878 shares of the company’s stock, valued at approximately C$92,096. Insiders have sold a total of 75,819 shares of company stock worth $2,329,415 in the last ninety days.

The business also recently disclosed 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 of this dividend is Wednesday, April 13th. This represents a $0.96 annualized dividend and a yield of 3.34%. Paramount Resources’s dividend payout ratio is presently 15.53%.

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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