Paramount Resources (TSE:POU) Sets New 12-Month Low – Should You Sell?

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

Analysts Set New Price Targets

Several research firms have recently weighed in on POU. CIBC lowered their price target on Paramount Resources from C$39.50 to C$24.50 in a report on Wednesday, February 19th. BMO Capital Markets decreased their price target on shares of Paramount Resources from C$40.00 to C$25.00 in a research report on Wednesday, February 19th. Cormark raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. Jefferies Financial Group reduced their target price on shares of Paramount Resources from C$35.00 to C$21.00 in a report on Monday. Finally, Royal Bank of Canada lowered their price target on shares of Paramount Resources from C$34.00 to C$19.00 in a report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$30.11.

Paramount Resources Trading Down 2.3 %

The company’s 50 day simple moving average is C$28.68 and its 200-day simple moving average is C$28.23. The firm has a market cap of C$2.46 billion, a P/E ratio of 6.76, a P/E/G ratio of 0.14 and a beta of 3.04. The company has a quick ratio of 0.68, a current ratio of 0.62 and a debt-to-equity ratio of 2.06.

Paramount Resources Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 28th. Investors 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 yield of 3.63%. The ex-dividend date of this dividend is Thursday, February 20th. Paramount Resources’s payout ratio is currently 73.70%.

Insider Buying and Selling at Paramount Resources

In related news, Senior Officer Michael S. Han sold 8,320 shares of the business’s stock in a transaction that occurred 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 currently owned by corporate insiders.

About Paramount Resources

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.