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

Paramount Resources Ltd. (TSE:POU) has received an average rating of “Moderate Buy” from the ten research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is C$38.20.

Several research firms have recently issued reports on POU. Scotiabank upped their price target on Paramount Resources from C$43.00 to C$44.00 in a research note on Friday, November 15th. Royal Bank of Canada increased their price target on Paramount Resources from C$34.00 to C$37.00 in a report on Friday, November 15th. Cibc World Mkts raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Jefferies Financial Group decreased their price objective on shares of Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, CIBC lifted their target price on shares of Paramount Resources from C$38.00 to C$39.50 in a report on Friday, November 15th.

Paramount Resources Stock Down 0.5 %

POU stock opened at C$31.99 on Wednesday. The firm has a market cap of C$4.69 billion, a PE ratio of 13.56, a PEG ratio of 0.14 and a beta of 3.04. Paramount Resources has a 1 year low of C$24.51 and a 1 year high of C$33.06. The company has a fifty day simple moving average of C$29.90 and a 200 day simple moving average of C$28.93. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83.

Paramount Resources Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 31st will be given a $0.15 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $1.80 annualized dividend and a dividend yield of 5.63%. Paramount Resources’s dividend payout ratio is presently 76.27%.

Insider Activity

In related news, Senior Officer Michael S. Han sold 8,320 shares of Paramount Resources stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of C$30.86, for a total value of C$256,788.48. Also, Director Kimberley Elizabeth Lynch Proctor acquired 3,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was acquired at an average cost of C$31.36 per share, for a total transaction of C$94,080.00. Insiders sold 88,320 shares of company stock worth $2,730,172 over the last quarter. 45.36% of the stock is currently owned by company 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.