Paramount Resources (TSE:POU) Hits New 1-Year Low – Here’s What Happened

Shares of Paramount Resources Ltd. (TSE:POU) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as C$16.41 and last traded at C$16.60, with a volume of 50225 shares trading hands. The stock had previously closed at C$16.90.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Jefferies Financial Group lowered their target price on Paramount Resources from C$35.00 to C$21.00 in a report on Monday. Scotiabank reduced their price target on Paramount Resources from C$46.00 to C$31.00 in a research report on Wednesday, February 19th. BMO Capital Markets decreased their price objective on Paramount Resources from C$40.00 to C$25.00 in a research note on Wednesday, February 19th. CIBC cut their target price on Paramount Resources from C$39.50 to C$24.50 in a research note on Wednesday, February 19th. Finally, National Bank Financial downgraded shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$30.11.

Paramount Resources Stock Performance

The firm has a market cap of C$2.46 billion, a price-to-earnings ratio of 6.76, a P/E/G ratio of 0.14 and a beta of 3.04. 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 simple moving average of C$28.68 and a two-hundred day simple moving average of C$28.23.

Paramount Resources Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 28th will be paid a $0.05 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Thursday, February 20th. Paramount Resources’s dividend payout ratio (DPR) is presently 73.70%.

Insiders Place Their Bets

In related news, Senior Officer Michael S. Han sold 8,320 shares of the firm’s stock in a transaction 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. 45.36% of the stock is owned by 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.