Paramount Resources (TSE:POU – Free Report) had its price target decreased by Royal Bank of Canada from C$34.00 to C$19.00 in a research report released on Tuesday,BayStreet.CA reports.
A number of other research firms also recently issued reports on POU. Scotiabank increased their price objective on shares of Paramount Resources from C$44.00 to C$46.00 in a research note on Friday, January 17th. Cormark upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. Jefferies Financial Group decreased their price objective on Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, CIBC raised their price objective on Paramount Resources from C$38.00 to C$39.50 in a research report on Friday, November 15th. Three equities 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$31.67.
Check Out Our Latest Analysis on POU
Paramount Resources Price Performance
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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Thursday, February 20th. Paramount Resources’s dividend payout ratio (DPR) is presently 73.70%.
Insiders Place Their Bets
In other news, insider Brenda Gail Riddell purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of C$31.30 per share, for a total transaction of C$3,129,630.00. Also, Senior Officer Michael S. Han sold 8,320 shares of the company’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. 45.36% of the stock is currently owned by company 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.
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