Paramount Resources Ltd. (TSE:POU) Receives C$28.21 Consensus Price Target from Analysts

Paramount Resources Ltd. (TSE:POU) has received an average recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is C$28.21.

A number of analysts have recently issued reports on POU shares. BMO Capital Markets cut their price target on shares of Paramount Resources from C$40.00 to C$25.00 in a report on Wednesday, February 19th. Royal Bank of Canada cut their price target on shares of Paramount Resources from C$34.00 to C$19.00 in a report on Tuesday, February 18th. Scotiabank cut their price target on shares of Paramount Resources from C$46.00 to C$31.00 in a report on Wednesday, February 19th. CIBC cut their price target on shares of Paramount Resources from C$39.50 to C$24.50 in a report on Wednesday, February 19th. Finally, National Bank Financial downgraded shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th.

Paramount Resources Trading Up 2.1 %

POU opened at C$17.13 on Monday. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.62 and a quick ratio of 0.68. The company’s 50 day simple moving average is C$24.41 and its two-hundred day simple moving average is C$27.09. Paramount Resources has a 1-year low of C$14.33 and a 1-year high of C$33.06. The firm has a market capitalization of C$2.55 billion, a price-to-earnings ratio of 7.01, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04.

Paramount Resources Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 3.50%. Paramount Resources’s dividend payout ratio (DPR) is 73.70%.

Insiders Place Their Bets

In other news, Senior Officer Michael S. Han sold 8,320 shares of Paramount Resources stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of C$30.86, for a total transaction of C$256,788.48. Also, Senior Officer Rodrigo Sousa acquired 5,600 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were purchased at an average cost of C$15.78 per share, with a total value of C$88,365.76. Insiders acquired a total of 8,848 shares of company stock worth $143,148 over the last 90 days. Corporate insiders own 45.36% of the company’s stock.

Paramount Resources Company Profile

Paramount Resources Ltd is a Canadian energy company that explores, develops, produces, and markets natural gas, crude oil, and natural gas liquids. The company takes part in exploration and production in Alberta and British Columbia. Sales for Paramount’s products are priced in a multitude of markets that span the United States and Canada.