Paramount Resources Ltd. (TSE:POU) Receives Average Rating of “Moderate Buy” from Analysts

Paramount Resources Ltd. (TSE:POU) has been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is C$26.88.

A number of research analysts have commented on the stock. Royal Bank of Canada reduced their price objective on shares of Paramount Resources from C$34.00 to C$19.00 in a research note on Tuesday, February 18th. BMO Capital Markets lowered their price objective on Paramount Resources from C$40.00 to C$25.00 in a report on Wednesday, February 19th. Scotiabank lowered their price target on Paramount Resources from C$46.00 to C$31.00 in a report on Wednesday, February 19th. Jefferies Financial Group reduced their price objective on Paramount Resources from C$35.00 to C$21.00 in a research note on Monday, February 24th. Finally, Raymond James set a C$20.00 price target on shares of Paramount Resources and gave the stock a “market perform” rating in a research report on Tuesday.

Paramount Resources Trading Down 6.1 %

Shares of POU opened at C$15.44 on Friday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.68 and a current ratio of 0.62. Paramount Resources has a one year low of C$14.33 and a one year high of C$33.06. The stock has a 50-day moving average price of C$19.86 and a 200 day moving average price of C$25.92. The company has a market capitalization of C$2.30 billion, a P/E ratio of 6.32, a P/E/G ratio of 0.14 and a beta of 3.04.

Paramount Resources Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, April 15th. This represents a $0.60 annualized dividend and a yield of 3.89%. Paramount Resources’s payout ratio is 73.70%.

Insider Transactions at Paramount Resources

In other Paramount Resources news, Senior Officer Rodrigo Sousa bought 5,600 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of C$15.78 per share, with a total value of C$88,365.76. Also, Director Dirk Jungé purchased 3,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of C$15.63 per share, for a total transaction of C$46,876.32. In the last three months, insiders purchased 10,600 shares of company stock valued at $164,838. Company insiders own 45.36% of the company’s stock.

About Paramount Resources

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.