Paramount Resources (TSE:POU – Get Rating) had its target price increased by Cormark from C$38.00 to C$46.00 in a report published on Thursday morning, MarketBeat.com reports. Cormark currently has a buy rating on the stock.
Several other research firms have also weighed in on POU. Royal Bank of Canada raised their price objective on shares of Paramount Resources from C$30.00 to C$33.00 and gave the stock a sector perform rating in a report on Thursday, March 3rd. Stifel Nicolaus raised their price objective on shares of Paramount Resources from C$37.50 to C$47.50 in a report on Thursday. National Bank Financial raised their price objective on shares of Paramount Resources to C$30.00 and gave the stock a sector perform rating in a report on Thursday, January 6th. Scotiabank raised their price objective on shares of Paramount Resources from C$25.00 to C$31.00 in a report on Tuesday, March 8th. Finally, National Bankshares dropped their price objective on shares of Paramount Resources from C$45.00 to C$35.00 in a report on Thursday, April 14th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of C$38.55.
Shares of POU opened at C$34.46 on Thursday. The stock has a market cap of C$4.80 billion and a price-to-earnings ratio of 20.59. 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 12 month low of C$11.97 and a 12 month high of C$36.25. The company has a 50-day moving average price of C$30.25 and a two-hundred day moving average price of C$26.07.
The business also recently declared a monthly dividend, which will be paid on Tuesday, May 31st. Investors of record on Tuesday, May 31st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, May 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.48%. This is a positive change from Paramount Resources’s previous monthly dividend of $0.08. Paramount Resources’s dividend payout ratio (DPR) is currently 15.53%.
In other Paramount Resources news, Senior Officer Bernard K. Lee sold 10,000 shares of Paramount Resources stock in a transaction on Wednesday, March 30th. The shares were sold at an average price of C$32.00, for a total transaction of C$320,000.00. Following the completion of the sale, the insider now owns 253,010 shares of the company’s stock, valued at approximately C$8,096,320. Also, Director James Geral Bell sold 19,231 shares of Paramount Resources stock in a transaction on 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 sale, the director now directly owns 26,249 shares of the company’s stock, valued at approximately C$835,111.94. In the last three months, insiders sold 75,819 shares of company stock valued at $2,329,415.
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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