Brokerages Set Paramount Resources Ltd. (TSE:POU) Price Target at C$31.67

Paramount Resources Ltd. (TSE:POU) has been assigned an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$31.67.

Several analysts have weighed in on the stock. Cormark upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 15th. Scotiabank reduced their price target on shares of Paramount Resources from C$46.00 to C$31.00 in a report on Wednesday. CIBC reduced their price target on shares of Paramount Resources from C$39.50 to C$24.50 in a report on Wednesday. Jefferies Financial Group reduced their price target on shares of Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, National Bank Financial downgraded shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th.

Paramount Resources Stock Down 2.4 %

POU stock opened at C$17.65 on Thursday. 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 has a 1-year low of C$16.60 and a 1-year high of C$33.06. The firm has a fifty day moving average price of C$29.68 and a two-hundred day moving average price of C$28.55. The firm has a market cap of C$2.63 billion, a price-to-earnings ratio of 7.23, a PEG ratio of 0.14 and a beta of 3.04.

Paramount Resources Cuts Dividend

The company 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. The ex-dividend date is Thursday, February 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.40%. Paramount Resources’s payout ratio is 73.70%.

Insider Activity at Paramount Resources

In other news, Senior Officer Michael S. Han sold 8,320 shares of the firm’s stock in a transaction 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. Also, insider Brenda Gail Riddell bought 100,000 shares of the stock in a transaction dated Monday, November 25th. The stock was acquired at an average price of C$31.30 per share, with a total value of C$3,129,630.00. 45.36% of the stock is currently owned by corporate 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.