Paramount Resources Ltd. (TSE:POU) Given Average Recommendation of “Hold” by Brokerages

Shares of Paramount Resources Ltd. (TSE:POUGet Rating) have earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is C$39.80.

Several analysts have recently weighed in on POU shares. BMO Capital Markets dropped their price objective on shares of Paramount Resources from C$45.00 to C$42.00 in a report on Thursday, August 4th. CIBC dropped their price objective on shares of Paramount Resources from C$50.00 to C$40.00 in a report on Wednesday, July 13th. Scotiabank dropped their price objective on shares of Paramount Resources from C$35.00 to C$34.00 in a report on Thursday, July 14th. Raymond James raised their price objective on shares of Paramount Resources from C$40.00 to C$45.00 and gave the stock an “outperform” rating in a report on Tuesday, July 5th. Finally, National Bankshares dropped their price objective on shares of Paramount Resources from C$50.00 to C$45.00 and set an “outperform” rating for the company in a report on Monday, July 18th.

Insider Transactions at Paramount Resources

In related news, Senior Officer Bernard K. Lee acquired 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 22nd. The shares were acquired at an average cost of C$31.00 per share, for a total transaction of C$465,000.00. Following the completion of the acquisition, the insider now directly owns 259,604 shares in the company, valued at approximately C$8,047,724.

Paramount Resources Stock Down 2.9 %

TSE POU opened at C$27.97 on Friday. The company has a debt-to-equity ratio of 8.12, a quick ratio of 0.37 and a current ratio of 0.40. The firm has a 50-day simple moving average of C$28.77 and a 200 day simple moving average of C$30.91. Paramount Resources has a twelve month low of C$15.62 and a twelve month high of C$40.73. The stock has a market cap of C$3.95 billion and a PE ratio of 6.84.

Paramount Resources (TSE:POUGet Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported C$1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.09 by C$0.15. The business had revenue of C$536.20 million during the quarter. On average, research analysts forecast that Paramount Resources will post 7.22 EPS for the current year.

Paramount Resources Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 29th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.29%. Paramount Resources’s dividend payout ratio is 29.34%.

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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