Paramount Resources Ltd. (TSE:POU) Receives C$38.20 Average Target Price from Analysts

Shares of Paramount Resources Ltd. (TSE:POU) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is C$38.20.

Several brokerages have recently issued reports on POU. Royal Bank of Canada raised their price target on Paramount Resources from C$34.00 to C$37.00 in a research report on Friday, November 15th. Jefferies Financial Group cut their target price on shares of Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Cibc World Mkts upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Cormark upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 15th. Finally, Scotiabank lifted their price objective on Paramount Resources from C$43.00 to C$44.00 in a report on Friday, November 15th.

Paramount Resources Price Performance

TSE POU opened at C$32.13 on Wednesday. Paramount Resources has a 1 year low of C$24.51 and a 1 year high of C$33.06. The company has a fifty day simple moving average of C$29.80 and a 200 day simple moving average of C$28.98. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83. The company has a market cap of C$4.71 billion, a P/E ratio of 13.61, a P/E/G ratio of 0.14 and a beta of 3.04.

Paramount Resources Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 31st will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.60%. Paramount Resources’s payout ratio is presently 76.27%.

Insider Transactions at Paramount Resources

In other Paramount Resources news, Director Kimberley Elizabeth Lynch Proctor bought 3,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was bought 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 dated Tuesday, December 24th. The shares were sold at an average price of C$30.86, for a total value of C$256,788.48. In the last quarter, insiders have sold 88,320 shares of company stock valued at $2,730,172. 45.36% of the stock is owned by insiders.

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.