Paramount Resources Ltd. (TSE:POU) Receives C$28.21 Consensus PT from Brokerages

Shares of Paramount Resources Ltd. (TSE:POU) have been given an average recommendation of “Moderate Buy” by the eight brokerages that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is C$28.21.

Several brokerages have recently commented on POU. National Bank Financial lowered Paramount Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. CIBC cut their target price on Paramount Resources from C$39.50 to C$24.50 in a research report on Wednesday, February 19th. Royal Bank of Canada cut their target price on Paramount Resources from C$34.00 to C$19.00 in a research report on Tuesday, February 18th. Scotiabank cut their target price on Paramount Resources from C$46.00 to C$31.00 in a research report on Wednesday, February 19th. Finally, Jefferies Financial Group cut their target price on Paramount Resources from C$35.00 to C$21.00 in a research report on Monday, February 24th.

Paramount Resources Stock Performance

Shares of POU opened at C$17.13 on Monday. Paramount Resources has a 12 month low of C$14.33 and a 12 month high of C$33.06. The stock has a fifty day moving average price of C$24.41 and a 200-day moving average price of C$27.09. The company has a current ratio of 0.62, a quick ratio of 0.68 and a debt-to-equity ratio of 2.06. The firm has a market cap of C$2.55 billion, a PE ratio of 7.01, a P/E/G 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, March 31st. Stockholders of record on Monday, March 31st will be paid a dividend of $0.05 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Resources’s payout ratio is currently 73.70%.

Insider Transactions at Paramount Resources

In related news, Director Dirk Jungé purchased 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average cost of C$15.63 per share, with a total value of C$46,876.32. Also, Senior Officer Rodrigo Sousa purchased 5,600 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average cost of C$15.78 per share, for a total transaction of C$88,365.76. Insiders have bought a total of 8,848 shares of company stock valued at $143,148 in the last ninety days. 45.36% of the stock is currently owned by corporate insiders.

Paramount Resources Company Profile

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.