Paramount Resources Ltd. (TSE:POU) Announces Monthly Dividend of $0.15

Paramount Resources Ltd. (TSE:POU) announced a monthly dividend on Thursday, August 1st, Zacks reports. Shareholders of record on Thursday, August 15th will be paid a dividend of 0.15 per share on Friday, August 30th. This represents a $1.80 annualized dividend and a yield of 6.59%. The ex-dividend date of this dividend is Thursday, August 15th.

Paramount Resources Stock Down 4.0 %

TSE POU traded down C$1.14 during midday trading on Friday, hitting C$27.32. 55,365 shares of the company traded hands, compared to its average volume of 235,174. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.67 and a quick ratio of 0.68. The company has a market cap of C$3.99 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 0.14 and a beta of 3.19. The company’s 50-day simple moving average is C$31.06 and its 200-day simple moving average is C$29.43. Paramount Resources has a 52 week low of C$24.59 and a 52 week high of C$33.80.

Paramount Resources (TSE:POU) last announced its earnings results on Thursday, May 2nd. The company reported C$0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.59 by C($0.13). The company had revenue of C$452.30 million for the quarter, compared to the consensus estimate of C$415.00 million. Paramount Resources had a net margin of 19.97% and a return on equity of 9.92%. As a group, equities research analysts forecast that Paramount Resources will post 1.8292264 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on POU. National Bankshares raised their price objective on Paramount Resources from C$37.50 to C$40.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Royal Bank of Canada raised their price objective on Paramount Resources from C$34.00 to C$36.00 and gave the stock a “sector perform” rating in a research report on Friday, May 3rd. Scotiabank raised their price objective on Paramount Resources from C$42.00 to C$43.00 in a research report on Friday, July 12th. Stifel Nicolaus raised their price objective on Paramount Resources from C$36.00 to C$37.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, CIBC raised their price objective on Paramount Resources from C$37.00 to C$38.00 in a research report on Monday, July 15th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$37.45.

Insider Buying and Selling

In related news, Senior Officer Bernard K. Lee sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of C$30.94, for a total value of C$154,721.00. In other Paramount Resources news, Senior Officer John B. Williams sold 11,929 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of C$31.00, for a total value of C$369,799.00. Also, Senior Officer Bernard K. Lee sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of C$30.94, for a total value of C$154,721.00. Insiders sold 85,661 shares of company stock worth $2,750,991 in the last 90 days. Insiders own 45.57% 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.