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

Shares of Paramount Resources Ltd. (TSE:POU) have received an average rating of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$31.67.

POU has been the subject of several analyst reports. Jefferies Financial Group decreased their target price on shares of Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Scotiabank cut their price target on shares of Paramount Resources from C$46.00 to C$31.00 in a report on Wednesday. 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. Cormark raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. Finally, 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.

Paramount Resources Stock Performance

POU opened at C$18.29 on Thursday. 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 firm has a fifty day moving average price of C$30.19 and a 200 day moving average price of C$28.71. Paramount Resources has a 1 year low of C$16.60 and a 1 year high of C$33.06. The stock has a market cap of C$2.72 billion, a P/E ratio of 7.49, a P/E/G ratio of 0.14 and a beta of 3.04.

Paramount Resources Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.05 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Thursday, February 20th. Paramount Resources’s payout ratio is 73.70%.

Insider Transactions at Paramount Resources

In other news, Director Kimberley Elizabeth Lynch Proctor purchased 3,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were purchased at an average price of C$31.36 per share, with a total value of C$94,080.00. Also, Senior Officer Michael S. Han sold 8,320 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of C$30.86, for a total transaction of C$256,788.48. Insiders acquired 103,248 shares of company stock valued at $3,231,616 over the last 90 days. 45.36% of the stock is currently owned by corporate insiders.

Paramount Resources Company Profile

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.