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

Shares of Paramount Resources Ltd. (TSE:POU) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is C$26.88.

A number of equities research analysts have commented on the company. Royal Bank of Canada lowered their target price on Paramount Resources from C$34.00 to C$19.00 in a report on Tuesday, February 18th. Scotiabank dropped their price objective on Paramount Resources from C$46.00 to C$31.00 in a research report on Wednesday, February 19th. Raymond James set a C$20.00 target price on shares of Paramount Resources and gave the company a “market perform” rating in a report on Tuesday. CIBC lowered their price target on shares of Paramount Resources from C$24.50 to C$22.00 in a report on Thursday. Finally, BMO Capital Markets reduced their price objective on shares of Paramount Resources from C$40.00 to C$25.00 in a research note on Wednesday, February 19th.

Paramount Resources Stock Down 6.1 %

Shares of TSE POU opened at C$15.44 on Friday. The firm’s 50-day moving average is C$19.86 and its two-hundred day moving average is C$25.92. The company has a market capitalization of C$2.30 billion, a PE ratio of 6.32, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. Paramount Resources has a 12-month low of C$14.33 and a 12-month high of C$33.06. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.62 and a quick ratio of 0.68.

Paramount Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.89%. Paramount Resources’s payout ratio is 73.70%.

Insider Activity at Paramount Resources

In other Paramount Resources news, Director Dirk Jungé purchased 2,000 shares of Paramount Resources stock in a transaction on Wednesday, April 9th. The shares were purchased at an average cost of C$14.80 per share, with a total value of C$29,595.90. Also, Senior Officer Rodrigo Sousa acquired 5,600 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of C$15.78 per share, with a total value of C$88,365.76. Over the last 90 days, insiders have bought 10,600 shares of company stock worth $164,838. 45.36% of the stock is owned by insiders.

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.