Paramount Resources (TSE:POU – Free Report) had its price target increased by CIBC from C$35.00 to C$37.00 in a report published on Friday morning, BayStreet.CA reports. The brokerage currently has a neutral rating on the stock.
Other equities research analysts have also issued research reports about the stock. BMO Capital Markets increased their price objective on shares of Paramount Resources from C$37.00 to C$38.50 and gave the stock an outperform rating in a research report on Friday. Raymond James dropped their price target on shares of Paramount Resources from C$40.00 to C$36.00 and set an outperform rating on the stock in a research note on Friday, January 19th. Stifel Nicolaus lifted their target price on Paramount Resources from C$36.00 to C$37.00 and gave the stock a buy rating in a research report on Friday. ATB Capital dropped their price objective on Paramount Resources from C$37.00 to C$36.00 and set an outperform rating on the stock in a report on Thursday, March 7th. Finally, Jefferies Financial Group cut their price target on shares of Paramount Resources from C$33.00 to C$31.00 in a report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of C$35.80.
Check Out Our Latest Stock Report on Paramount Resources
Paramount Resources Price Performance
Paramount Resources (TSE:POU – Get Free Report) last issued its quarterly earnings results on Wednesday, March 6th. The company reported C$0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.95 by C($0.20). The business had revenue of C$470.50 million during the quarter, compared to analyst estimates of C$436.00 million. Paramount Resources had a return on equity of 13.67% and a net margin of 26.13%. Equities research analysts forecast that Paramount Resources will post 2.3708207 EPS for the current year.
Paramount Resources Increases Dividend
The company also recently announced a monthly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 31st will be given a dividend of $0.15 per share. This is a positive change from Paramount Resources’s previous monthly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.80 dividend on an annualized basis and a yield of 5.55%. Paramount Resources’s payout ratio is currently 47.32%.
Insider Transactions at Paramount Resources
In other news, Senior Officer Michael S. Han sold 30,040 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of C$28.00, for a total value of C$841,120.00. In other news, Senior Officer Mark Gordon Franko sold 8,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of C$32.20, for a total value of C$257,600.00. Also, Senior Officer Michael S. Han sold 30,040 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of C$28.00, for a total value of C$841,120.00. Over the last ninety days, insiders have sold 77,655 shares of company stock worth $2,278,857. Company insiders own 45.75% of the company’s stock.
Paramount Resources Company Profile
Paramount Resources Ltd. explores for and develops conventional and unconventional petroleum and natural gas reserves and resources in Canada. The company holds interests in the Karr and Wapiti Montney properties covering an area of 109,000 net acres located south of the city of Grande Prairie, Alberta; Kaybob North Duvernay development and natural gas producing properties covering an area of 124,000 net acres located in west-central Alberta; and Willesden Green Duvernay development in central Alberta and shale gas producing properties in the Horn River Basin in northeast British Columbia covering an area of 249,000 net acres.
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