Paramount Resources (TSE:POU) Given New C$19.00 Price Target at Royal Bank of Canada

Paramount Resources (TSE:POU) had its price target lowered by Royal Bank of Canada from C$34.00 to C$19.00 in a report published on Tuesday,BayStreet.CA reports.

Several other equities analysts also recently weighed in on POU. Scotiabank increased their price target on shares of Paramount Resources from C$44.00 to C$46.00 in a report on Friday, January 17th. Cormark raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 15th. CIBC raised their price objective on shares of Paramount Resources from C$38.00 to C$39.50 in a research note on Friday, November 15th. Finally, Jefferies Financial Group dropped 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 note on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$36.67.

Paramount Resources Price Performance

Shares of TSE:POU opened at C$18.13 on Tuesday. Paramount Resources has a twelve month low of C$16.60 and a twelve month high of C$33.06. The company’s 50 day moving average is C$30.70 and its 200 day moving average is C$28.86. The company has a current ratio of 0.62, a quick ratio of 0.68 and a debt-to-equity ratio of 2.06. The company has a market cap of C$2.70 billion, a PE ratio of 7.42, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04.

Paramount Resources Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 28th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.31%. Paramount Resources’s dividend payout ratio (DPR) is 73.70%.

Insider Activity

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

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.