Paramount Resources Ltd. (TSE:POU) Receives C$23.33 Average PT from Brokerages

Shares of Paramount Resources Ltd. (TSE:POU) have been given an average rating of “Moderate Buy” by the four research firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is C$23.33.

A number of research analysts have recently weighed in on POU shares. CIBC dropped their target price on Paramount Resources from C$24.50 to C$22.00 in a report on Thursday, April 10th. Jefferies Financial Group dropped their price target on Paramount Resources from C$35.00 to C$21.00 in a report on Monday, February 24th. Scotiabank dropped their price target on Paramount Resources from C$46.00 to C$31.00 in a report on Wednesday, February 19th. Royal Bank Of Canada lifted their price target on Paramount Resources from C$19.00 to C$21.00 and gave the stock a “sector perform” rating in a report on Thursday, May 22nd. Finally, BMO Capital Markets dropped their price target on Paramount Resources from C$40.00 to C$25.00 in a report on Wednesday, February 19th.

Insider Buying and Selling at Paramount Resources

In related news, Senior Officer Garth W.J. Stotts sold 5,122 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of C$19.16, for a total transaction of C$98,130.35. Also, Director Dirk Jungé bought 2,000 shares of Paramount Resources stock in a transaction that occurred on Wednesday, April 9th. The shares were acquired at an average price of C$14.80 per share, with a total value of C$29,595.90. Corporate insiders own 45.36% of the company’s stock.

Paramount Resources Trading Down 1.0%

Shares of Paramount Resources stock opened at C$22.46 on Monday. Paramount Resources has a 52 week low of C$14.33 and a 52 week high of C$32.83. 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$18.20 and a two-hundred day moving average price of C$22.69. The stock has a market capitalization of C$3.34 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04.

Paramount Resources Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 30th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.60 annualized dividend and a dividend yield of 2.67%. Paramount Resources’s payout ratio is presently 73.70%.

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.