Paramount Resources (TSE:POU) Price Target Lowered to C$25.00 at BMO Capital Markets

Paramount Resources (TSE:POU) had its price target lowered by BMO Capital Markets from C$40.00 to C$25.00 in a research note released on Wednesday,BayStreet.CA reports.

Several other brokerages have also commented on POU. Cormark raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. Royal Bank of Canada dropped their price objective on shares of Paramount Resources from C$34.00 to C$19.00 in a research note on Tuesday. Scotiabank decreased their target price on shares of Paramount Resources from C$46.00 to C$31.00 in a research note on Wednesday. CIBC dropped their price target on Paramount Resources from C$39.50 to C$24.50 in a research report on Wednesday. Finally, Jefferies Financial Group reduced their price objective on Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$31.67.

Paramount Resources Stock Up 0.9 %

Shares of TSE:POU opened at C$18.29 on Wednesday. The firm has a market capitalization of C$2.72 billion, a P/E ratio of 7.49, a P/E/G ratio of 0.14 and a beta of 3.04. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.68 and a current ratio of 0.62. The stock has a 50 day moving average price of C$30.19 and a 200-day moving average price of C$28.71. Paramount Resources has a 52-week low of C$16.60 and a 52-week high of C$33.06.

Paramount Resources Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 28th will be paid a $0.05 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Thursday, February 20th. Paramount Resources’s dividend payout ratio is currently 73.70%.

Insider Activity

In other Paramount Resources news, Senior Officer Michael S. Han sold 8,320 shares of Paramount Resources stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of C$30.86, for a total value of C$256,788.48. Also, Director Kimberley Elizabeth Lynch Proctor bought 3,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were bought at an average price of C$31.36 per share, with a total value of C$94,080.00. Insiders have acquired a total of 103,248 shares of company stock valued at $3,231,616 over the last ninety days. 45.36% of the stock is currently owned by corporate insiders.

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.