Paramount Resources Ltd. (TSE:POU) Receives Average Recommendation of “Moderate Buy” from Brokerages

Paramount Resources Ltd. (TSE:POU) has been given an average rating of “Moderate Buy” by the ten analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is C$38.20.

POU has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their price target on Paramount Resources from C$34.00 to C$37.00 in a research report on Friday, November 15th. Cibc World Mkts upgraded Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. CIBC upped their price objective on shares of Paramount Resources from C$38.00 to C$39.50 in a report on Friday, November 15th. Jefferies Financial Group reduced 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 report on Thursday, December 19th. Finally, Scotiabank increased their price target on shares of Paramount Resources from C$43.00 to C$44.00 in a report on Friday, November 15th.

Insider Buying and Selling

In related news, Senior Officer Michael S. Han sold 8,320 shares of Paramount Resources stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of C$30.86, for a total value of C$256,788.48. Also, insider Brenda Gail Riddell acquired 100,000 shares of the stock in a transaction on Monday, November 25th. The shares were purchased at an average price of C$31.30 per share, with a total value of C$3,129,630.00. Insiders have sold 88,320 shares of company stock valued at $2,730,172 over the last 90 days. 45.36% of the stock is owned by corporate insiders.

Paramount Resources Stock Performance

Shares of POU opened at C$31.99 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.75 and a quick ratio of 0.68. The firm has a 50-day moving average of C$29.90 and a 200-day moving average of C$28.93. The company has a market cap of C$4.69 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. Paramount Resources has a one year low of C$24.51 and a one year high of C$33.06.

Paramount Resources Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 31st will be paid a $0.15 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.63%. The ex-dividend date of this dividend is Wednesday, January 15th. Paramount Resources’s dividend payout ratio (DPR) is currently 76.27%.

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.