Paramount Resources (TSE:POU) Reaches New 12-Month Low Following Analyst Downgrade

Shares of Paramount Resources Ltd. (TSE:POU) reached a new 52-week low during mid-day trading on Tuesday after Royal Bank of Canada lowered their price target on the stock from C$34.00 to C$19.00. The company traded as low as C$16.60 and last traded at C$17.07, with a volume of 226184 shares trading hands. The stock had previously closed at C$31.75.

POU has been the topic of a number of other research reports. CIBC lifted their price target on shares of Paramount Resources from C$38.00 to C$39.50 in a report on Friday, November 15th. Scotiabank upped their price target on Paramount Resources from C$44.00 to C$46.00 in a research note on Friday, January 17th. Cormark raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 15th. Finally, Jefferies Financial Group dropped 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 report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Paramount Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of C$36.67.

Insider Buying and Selling

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

Paramount Resources Trading Down 42.9 %

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 business’s 50 day moving average price is C$30.70 and its 200-day moving average price is C$28.86. The company has a market cap of C$2.70 billion, a price-to-earnings ratio of 7.42, 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 given a dividend of $0.05 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Thursday, February 20th. Paramount Resources’s dividend payout ratio (DPR) is currently 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.