Paramount Resources Ltd. (TSE:POU) Senior Officer Sells C$257,600.00 in Stock

Paramount Resources Ltd. (TSE:POU) Senior Officer Mark Gordon Franko sold 8,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of C$32.20, for a total transaction of C$257,600.00.

Paramount Resources Stock Up 1.1 %

Shares of TSE POU traded up C$0.34 during midday trading on Monday, reaching C$32.39. 165,900 shares of the company’s stock traded hands, compared to its average volume of 264,354. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of 0.83. The stock’s 50 day simple moving average is C$28.80 and its 200-day simple moving average is C$27.90. Paramount Resources Ltd. has a one year low of C$24.59 and a one year high of C$33.80. The company has a market cap of C$4.68 billion, a price-to-earnings ratio of 10.11, a P/E/G ratio of 0.14 and a beta of 3.23.

Paramount Resources (TSE:POU) last released its quarterly earnings data 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). Paramount Resources had a net margin of 26.13% and a return on equity of 13.67%. The business had revenue of C$470.50 million for the quarter, compared to the consensus estimate of C$436.00 million. On average, analysts predict that Paramount Resources Ltd. will post 2.3708207 EPS for the current fiscal year.

Paramount Resources Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 31st will be given a dividend of $0.15 per share. This is a boost from Paramount Resources’s previous monthly dividend of $0.13. The ex-dividend date is Tuesday, May 14th. This represents a $1.80 dividend on an annualized basis and a yield of 5.56%. Paramount Resources’s dividend payout ratio is presently 47.32%.

Wall Street Analyst Weigh In

Several brokerages recently commented on POU. Raymond James cut 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 report on Friday, January 19th. 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. Stifel Nicolaus upped their price target on shares of Paramount Resources from C$36.00 to C$37.00 and gave the company a “buy” rating in a report on Friday. Royal Bank of Canada upped their price target on shares of Paramount Resources from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a report on Friday. Finally, ATB Capital cut their price target on shares of 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. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$35.80.

About Paramount Resources

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.