BMO Capital Markets Boosts Paramount Resources (TSE:POU) Price Target to C$45.00

Paramount Resources (TSE:POUGet Rating) had its target price raised by BMO Capital Markets from C$40.00 to C$45.00 in a report released on Thursday morning, BayStreet.CA reports.

POU has been the topic of several other reports. Royal Bank of Canada lifted their target price on shares of Paramount Resources from C$30.00 to C$33.00 and gave the stock a sector perform rating in a research note on Thursday, March 3rd. National Bank Financial lifted their target price on shares of Paramount Resources to C$30.00 and gave the stock a sector perform rating in a research note on Thursday, January 6th. Raymond James lifted their target price on shares of Paramount Resources from C$33.00 to C$37.00 and gave the stock an outperform rating in a research note on Friday, March 25th. Stifel Nicolaus boosted their price objective on shares of Paramount Resources from C$37.50 to C$47.50 in a research report on Thursday. Finally, CIBC boosted their price objective on shares of Paramount Resources from C$35.00 to C$36.00 in a research report on Thursday, April 14th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of C$38.55.

Shares of TSE POU opened at C$34.46 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.61 and a debt-to-equity ratio of 15.67. Paramount Resources has a 52 week low of C$11.97 and a 52 week high of C$36.25. The firm’s fifty day moving average is C$30.25 and its 200 day moving average is C$26.07. The company has a market cap of C$4.80 billion and a price-to-earnings ratio of 20.59.

Paramount Resources (TSE:POUGet Rating) last issued its earnings results on Wednesday, March 2nd. The company reported C$0.89 EPS for the quarter, topping the consensus estimate of C$0.52 by C$0.37. The firm had revenue of C$434.30 million during the quarter. Equities research analysts anticipate that Paramount Resources will post 2.61 earnings per share for the current year.

The firm also recently announced a monthly dividend, which will be paid on Tuesday, May 31st. Stockholders of record on Tuesday, May 31st will be given a $0.10 dividend. The ex-dividend date is Friday, May 13th. This is an increase from Paramount Resources’s previous monthly dividend of $0.08. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.48%. Paramount Resources’s dividend payout ratio is currently 15.53%.

In other news, Director Robert M. Macdonald sold 3,000 shares of the company’s stock in a transaction dated Tuesday, April 19th. The shares were sold at an average price of C$32.00, for a total value of C$96,000.00. Following the sale, the director now directly owns 2,878 shares of the company’s stock, valued at approximately C$92,096. Also, Director James Geral Bell sold 19,231 shares of the company’s stock in a transaction dated Wednesday, March 30th. The stock was sold at an average price of C$31.82, for a total transaction of C$611,834.27. Following the completion of the sale, the director now directly owns 26,249 shares in the company, valued at C$835,111.94. Insiders sold a total of 75,819 shares of company stock worth $2,329,415 over the last ninety days.

About Paramount Resources (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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