Paramount Resources (TSE:POU) Price Target Lowered to C$19.00 at Royal Bank of Canada

Paramount Resources (TSE:POU) had its price objective reduced by Royal Bank of Canada from C$34.00 to C$19.00 in a report issued on Tuesday morning,BayStreet.CA reports.

Several other research firms have also commented on POU. Cormark upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. Scotiabank lifted their price target on Paramount Resources from C$44.00 to C$46.00 in a report on Friday, January 17th. CIBC lifted their price target on Paramount Resources from C$38.00 to C$39.50 in a report on Friday, November 15th. Finally, Jefferies Financial Group cut 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 investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$36.67.

Paramount Resources Stock Down 42.9 %

TSE POU opened at C$18.13 on Tuesday. Paramount Resources has a 52 week low of C$16.60 and a 52 week high of C$33.06. The company has a quick ratio of 0.68, a current ratio of 0.62 and a debt-to-equity ratio of 2.06. The business’s fifty day simple moving average is C$30.70 and its 200-day simple moving average is C$28.86. The firm has a market cap of C$2.70 billion, a PE ratio of 7.42, a P/E/G ratio of 0.14 and a beta of 3.04.

Paramount Resources Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 28th will be given a $0.05 dividend. This represents a $0.60 annualized dividend and a yield of 3.31%. The ex-dividend date is Thursday, February 20th. Paramount Resources’s dividend payout ratio is currently 73.70%.

Insider Buying and Selling at Paramount Resources

In other news, Director Kimberley Elizabeth Lynch Proctor bought 3,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was bought at an average cost of C$31.36 per share, with a total value of C$94,080.00. Also, insider Brenda Gail Riddell bought 100,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was purchased at an average cost of C$31.30 per share, with a total value of C$3,129,630.00. Insiders bought a total of 103,248 shares of company stock valued at $3,231,616 in the last three months. 45.36% of the stock is 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.