Paramount Resources Ltd. (TSE:POU) to Issue Monthly Dividend of $0.10

Paramount Resources Ltd. (TSE:POU – Get Rating) declared a monthly dividend on Friday, May 13th, TickerTech reports. Investors of record on Tuesday, May 31st will be paid a dividend of 0.10 per share on Tuesday, May 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Friday, May 13th. This is an increase from Paramount Resources’s previous monthly dividend of $0.08.

Shares of POU stock traded up C$1.58 during trading on Wednesday, reaching C$32.16. The company’s stock had a trading volume of 90,811 shares, compared to its average volume of 486,604. The company has a debt-to-equity ratio of 15.67, a current ratio of 0.61 and a quick ratio of 0.56. The company has a market capitalization of C$4.53 billion and a price-to-earnings ratio of 18.27. The stock’s 50-day moving average price is C$30.43 and its 200 day moving average price is C$26.33. Paramount Resources has a 1-year low of C$11.97 and a 1-year high of C$36.25.

Paramount Resources (TSE:POU – Get Rating) last announced its quarterly earnings data on Wednesday, March 2nd. The company reported C$0.89 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.52 by C$0.37. The business had revenue of C$434.30 million during the quarter. On average, sell-side analysts anticipate that Paramount Resources will post 2.61 EPS for the current fiscal year.

A number of brokerages recently weighed in on POU. BMO Capital Markets lifted their price objective on shares of Paramount Resources from C$40.00 to C$45.00 in a report on Thursday, May 5th. Stifel Nicolaus boosted their price target on shares of Paramount Resources from C$37.50 to C$47.50 in a report on Thursday, May 5th. CIBC boosted their price target on shares of Paramount Resources from C$35.00 to C$36.00 in a report on Thursday, April 14th. Raymond James boosted their price target on shares of Paramount Resources from C$37.00 to C$40.00 and gave the stock an “outperform” rating in a report on Thursday, May 5th. Finally, ATB Capital boosted their price target on shares of Paramount Resources from C$39.00 to C$42.00 and gave the stock a “sector perform” rating in a report on Thursday, May 5th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$38.55.

In other news, Director Dirk Jungé sold 8,498 shares of the company’s stock in a transaction on Wednesday, March 23rd. The shares were sold at an average price of C$30.97, for a total transaction of C$263,206.85. Following the transaction, the director now directly owns 29,616 shares of the company’s stock, valued at approximately C$917,290.44. Also, Director Robert M. Macdonald sold 3,000 shares of the company’s stock in a transaction on Tuesday, April 19th. The stock was sold at an average price of C$32.00, for a total transaction of C$96,000.00. Following the transaction, the director now directly owns 2,878 shares in the company, valued at C$92,096. Insiders have sold a total of 85,819 shares of company stock valued at $2,671,185 in the last 90 days.

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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