Paramount Resources Ltd. (TSE:POU) Receives C$23.67 Average Price Target from Analysts

Paramount Resources Ltd. (TSE:POU) has earned an average rating of “Moderate Buy” from the four analysts that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$23.67.

Several analysts recently weighed in on the company. Raymond James Financial set a C$20.00 price target on Paramount Resources and gave the stock a “market perform” rating in a report on Tuesday, April 8th. CIBC cut their price objective on shares of Paramount Resources from C$24.50 to C$22.00 in a research report on Thursday, April 10th. Finally, Royal Bank Of Canada upped their price objective on shares of Paramount Resources from C$21.00 to C$23.00 and gave the stock a “sector perform” rating in a research report on Monday, June 30th.

Paramount Resources Stock Performance

Paramount Resources stock opened at C$21.64 on Friday. The company’s 50-day moving average is C$20.10 and its two-hundred day moving average is C$21.55. Paramount Resources has a 1 year low of C$14.33 and a 1 year high of C$32.83. The company has a market cap of C$3.22 billion, a PE ratio of 8.86, a PEG ratio of 0.14 and a beta of 3.04. The company has a current ratio of 0.62, a quick ratio of 0.68 and a debt-to-equity ratio of 2.06.

Paramount Resources Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 31st will be paid a dividend of $0.05 per share. This represents a $0.60 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Tuesday, July 15th. Paramount Resources’s payout ratio is 73.70%.

Insider Activity

In other news, Senior Officer Rodrigo Sousa sold 43,535 shares of the business’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of C$21.85, for a total transaction of C$951,239.75. Also, 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 value of C$98,130.35. Insiders own 45.36% of the company’s stock.

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.