$POU.TO

CIBC Lifts Paramount Resources' Price Target to C$34.50 from C$31

CIBC Capital Markets on Tuesday maintained its outperformer rating on the shares of Paramount Resources (POU.TO) while raising its price target to C$34.50 from C$31.00 after the oil and gas producer reported first-quarter results.With improved well results at Willesden Green and the earlier-than-anticipated start-up of phase two at the Alhambra gas plant, capital efficiencies are improving for Paramount, CIBC said.The company's increased production and reduced capital spending guidance drives a higher cash flow forecast in CIBC's model for 2026 and 2027.As a result, CIBC raised the company's price target, based on a 2027 target EV/DACF multiple of 6.0x."We expect the commissioning of Phase 2 at the Alhambra gas plant, along with corresponding well results, to serve as catalysts heading into H2/2026," CIBC said.Price: $30.31, Change: $-0.58, Percent Change: -1.88%

Paramount Resources Maintained at Sector Perform at National Bank After Q1 Results; Price Target Raised to C$38.00

National Bank Financial on Tuesday reiterated its sector-perform rating on the shares of Paramount Resources (POU.TO) while raising its price target to C$38.00 from C$36.00 following the oil and gas producer's first-quarter results."POU reported first quarter operating & financial results ahead of expectations, including average production of 48.3 mboe/d (50% liquids) and associated CFPS of $0.97 (vs. consensus $0.84) ... Strength of execution remains its hallmark, as it maintains (and augments) momentum and progress towards meaningful value catalysts in the outlook; POU is poised for a 24% return profile (vs. peers 19%) on leverage of 0.3x (in line with peers), while trading at 5.2x 2027e EV/DACF (vs. peers 4.1x). The increase in target price is ascribed to earnings outperformance and tailwinds to forecasts through the outlook," analyst Dan Payne wrote.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $30.52, Change: $+1.28, Percent Change: +4.38%

Paramount Resources's Q1 Net Income, Sales Fall YoY

Paramount Resources' (POU.TO) first-quarter net income and sales volumes dropped year over year, the company said Tuesday.Paramount reported a net income of C$53.2 million, or $0.36 per diluted share, in the three months ended March 31, slumping from $1.29 billion, or $8.74 per share, booked in the previous year.Analysts expected Paramount to record earnings of $0.27 per share, according to a consensus estimate compiled by FactSet.Sales fell to 48,255 barrels of oil equivalent per day (boe/d) from 54,409 boe/d.Paramount increased its first-half production guidance range to 43,000-46,000 boe/d from 39,000-44,000 boe/d previously. This resulted in an upgraded annual 2026 production guidance of 48,000-52,000 boe/d from 46,000-51,000 boe/d.The company cited the outperformance of the Willesden Green Duvernay property and the expected earlier start-up of the second phase of the Alhambra plant.Paramount also lowered its 2026 capital expenditures guidance by $50 million to a range of $1 billion to $1.1 billion, reflecting stronger well performance and improved capital efficiencies.In addition, Paramount revised its outlook for midpoint 2027 annual capital expenditures downward by $100 million to $1.0 billion.

Earnings Flash (POU.TO) Paramount Resources Reports Increased Production Guidance and Lower Capex Guidance

Earnings Flash (POU.TO) Paramount Resources Posts Q1 Per Share Basic $0.37 and Diluted $0.36 Vs $8.90 and $8.74 a Year Earlier

Paramount Resources to Pay Monthly Dividend on May 29

Paramount Resources (POU.TO) will pay a cash dividend of $0.05 per share on May 29, to shareholders of record on May 15, the company said on Friday.The regular monthly dividend is unchanged.Paramount shares closed up $0.25, to $30.74, on the Toronto Stock Exchange.

National Bank Maintains Its Sector Perform Rating and $36 Target

National Bank Maintains Its Sector Perform Rating and $36 Target

National Bank Says Paramount Sale Also Reflecting Depth of its Portfolio, "For Which Incremental Interests Should Receive Increased Consideration In Its Valuation"

National Bank Says Paramount Sale Also Reflecting Depth of its Portfolio, "For Which Incremental Interests Should Receive Increased Consideration In Its Valuation"

National Bank Says Paramount Selling Fox Drilling Subsidiary To AKITA a "Logical Transaction" to "Harvest Value From Its Drilling Assets (That Were Not Fairly Valued)"

National Bank Says Paramount Selling Fox Drilling Subsidiary To AKITA a "Logical Transaction" to "Harvest Value From Its Drilling Assets (That Were Not Fairly Valued)"

AKITA Drilling Announces Acquisition of Fox Drilling And Elimination of Dual Class Share Structure

AKITA Drilling (AKT-A.TO, AKT-B.TO) entered into a definitive agreement with Paramount Resources (POU.TO) to acquire all of Paramount's interests in Fox Drilling Limited Partnership, a privately-held drilling contractor that operates a fleet of high-specification AC triple drilling rigs in the Western Canadian Sedimentary Basin, said AKITA on Monday.AKITA will also undertake a reorganization of its share capital in connection with the acquisition, which will result in the elimination of AKITA's dual class share structure, said the company.AKITA will acquire all of Paramount's interests in Fox and its general partner, Fox Drilling Inc, in consideration for the issuance of around 19.26 million common shares, said the company and added that the final purchase price for the acquisition will be subject to post-closing adjustments for cash, working capital, indebtedness and any transaction expenses of Fox."We believe this transaction will create a stronger, more resilient drilling company with long-term value for all shareowners," said Colin A. Dease, President and Chief Executive Officer of AKITA. "The addition of Fox's fleet of high-specification AC triple rigs will enhance our scale and capabilities in the Montney and Duvernay gas basins."Under the purchase agreement, Paramount agreed to distribute the common shares pro rata among its shareholders promptly following the closing of the acquisition, said the company.Following the completion of the transaction and the distribution by Paramount, Paramount shareholders are expected to collectively hold approximately 33% of AKITA's outstanding common shares, noted AKITA.Paramount will enter into an agreement with AKITA for a term of three years, concurrent with the closing of the acquisition, pursuant to which Paramount will commit to utilize rigs of AKITA for an aggregate total of 2,700 rig days during the term, said the company.Upon closing of the transaction, James Riddell, the president and chief executive officer and chairman of the board of directors of Paramount and Jackson Riddell, vice-president of Lionsgate Capital Ltd., are expected to join the board of directors of AKITA and three of the current AKITA directors are expected to step down, stated the company.Linda Southern-Heathcott and Nancy Southern will remain as directors, with Southern-Heathcott remaining as board chair, said the company and added that the management team of AKITA will remain the same following closing of the transaction.AKITA plans to proceed with its annual general meeting scheduled for May 12, 2026, it said.In addition to shareholder approval, the transaction, which involves the share reorganization and the acquisition, is subject to customary conditions, including the conditional approval of the TSX for the listing of the common shares issuable pursuant to the transaction."AKITA plans to call a special meeting of AKITA shareholders to approve the Share Reorganization to be held in June 2026 and expects that the Transaction will be completed shortly after the receipt of such approval," added the company.

RBC Expects Canadian E&P Companies to Discuss Use of Free Cash Flows During Q1 Earnings Season

RBC Capital Markets on Monday said it expects Canadian oil and gas exploration and production companies to discuss the use of free cash flows amid higher crude prices during the earnings reporting season for the first quarter.RBC expects the companies to outline their near-term focus on higher buybacks and debt repayment, with capital programs to increase later this year if pricing remains robust.According to RBC, AECO natural-gas prices experienced a brief rebound during the first quarter, but have since pulled back as supplies have remained robust, keeping pace with increased demand from LNG Canada.RBC said its estimates are largely above FactSet consensus forecasts for now.The earnings season will kick off April 20 with PrairieSky Royalty (PSK.TO) reporting after market close.Price: $10.11, Change: $+0.01, Percent Change: +0.10%

Paramount Resources Acquires Additional Securities Of Canadian Premium Sand

Paramount Resources (POU.TO) said Friday that it has acquired additional securities of Canadian Premium Sand (CPS.V).Paramount said it acquired C$275,000 in principal amount of 12.0% secured convertible debentures of CPS as part of a private placement recently completed by CPS.The 2026 convertible debentures mature on Feb. 26, 2027, with a conversion price of $0.15 per share.Concurrently with the completion of the private placement, CPS also amended the terms of its outstanding 12.0% secured convertible debentures previously issued in February 2020 to reduce the conversion price thereof to $0.15 per share from $0.75 per share.Paramount would hold a total of 25,780,297 common shares, representing a 25.66% stake in CPS, following the conversion of all 2020 and 2026 convertible debentures held by the company.Prior to the transaction, Paramount held 17,946,964 common shares or a 19.38% interest in CPS.