Paramount Resources Ltd. (TSE:POU) Director Kimberley Elizabeth Lynch Proctor Acquires 3,000 Shares

Paramount Resources Ltd. (TSE:POU) Director Kimberley Elizabeth Lynch Proctor bought 3,000 shares of Paramount Resources stock in a transaction dated Friday, November 22nd. The shares were bought at an average cost of C$31.36 per share, with a total value of C$94,080.00.

Paramount Resources Trading Down 1.0 %

Shares of Paramount Resources stock traded down C$0.32 during mid-day trading on Monday, reaching C$31.17. 74,708 shares of the stock were exchanged, compared to its average volume of 304,363. Paramount Resources Ltd. has a fifty-two week low of C$24.51 and a fifty-two week high of C$33.06. The company has a market capitalization of C$4.57 billion, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. The company has a 50-day simple moving average of C$27.29. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83.

Paramount Resources Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 29th will be paid a $0.15 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.77%. The ex-dividend date is Friday, November 15th. Paramount Resources’s dividend payout ratio (DPR) is currently 76.27%.

Wall Street Analyst Weigh In

POU has been the topic of a number of recent analyst reports. Cormark upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. Jefferies Financial Group dropped their target price on Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada increased their target price on shares of Paramount Resources from C$34.00 to C$37.00 in a research report on Friday, November 15th. Scotiabank boosted their target price on Paramount Resources from C$43.00 to C$44.00 in a research note on Friday, November 15th. Finally, Cibc World Mkts upgraded Paramount Resources from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$37.60.

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.