Paramount Resources Ltd. (TSE:POU) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Paramount Resources Ltd. (TSE:POU) have received a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two 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 company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is C$31.67.

POU has been the topic of a number of research reports. BMO Capital Markets cut their target price on shares of Paramount Resources from C$40.00 to C$25.00 in a research report on Wednesday. Royal Bank of Canada cut their price objective on shares of Paramount Resources from C$34.00 to C$19.00 in a research report on Tuesday. Cormark raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. CIBC cut their price objective on shares of Paramount Resources from C$39.50 to C$24.50 in a research report on Wednesday. Finally, Jefferies Financial Group cut their price objective on shares of Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th.

Insider Buying and Selling

In other Paramount Resources news, Director Kimberley Elizabeth Lynch Proctor acquired 3,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was acquired at an average cost of C$31.36 per share, for a total transaction of C$94,080.00. Also, Senior Officer Michael S. Han sold 8,320 shares of Paramount Resources stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of C$30.86, for a total transaction of C$256,788.48. Insiders purchased 103,248 shares of company stock worth $3,231,616 in the last three months. Corporate insiders own 45.36% of the company’s stock.

Paramount Resources Trading Up 0.9 %

TSE POU opened at C$18.29 on Thursday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.68 and a current ratio of 0.62. The company has a market capitalization of C$2.72 billion, a price-to-earnings ratio of 7.49, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. The company’s 50-day simple moving average is C$30.19 and its two-hundred day simple moving average is C$28.71. Paramount Resources has a one year low of C$16.60 and a one year high of C$33.06.

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 3.28%. The ex-dividend date of this dividend is Thursday, February 20th. Paramount Resources’s dividend payout ratio (DPR) is presently 73.70%.

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.