Scotiabank Has Lowered Expectations for Paramount Resources (TSE:POU) Stock Price

Paramount Resources (TSE:POU) had its target price lowered by Scotiabank from C$46.00 to C$31.00 in a report issued on Wednesday morning,BayStreet.CA reports.

Other equities analysts have also issued reports about the company. Cormark upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. Jefferies Financial Group reduced their price target on shares of Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Royal Bank of Canada lowered their price objective on shares of Paramount Resources from C$34.00 to C$19.00 in a report on Tuesday. Finally, CIBC upped their price objective on shares of Paramount Resources from C$38.00 to C$39.50 in a research note on Friday, November 15th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$31.67.

Paramount Resources Stock Performance

TSE POU opened at C$17.65 on Wednesday. The company has a market capitalization of C$2.63 billion, a P/E ratio of 7.23, a P/E/G ratio of 0.14 and a beta of 3.04. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.68 and a current ratio of 0.62. Paramount Resources has a 52-week low of C$16.60 and a 52-week high of C$33.06. The company has a fifty day moving average of C$29.94 and a 200-day moving average of C$28.63.

Paramount Resources Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 28th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, February 20th. This represents a $0.60 annualized dividend and a yield of 3.40%. Paramount Resources’s payout ratio is currently 73.70%.

Insiders Place Their Bets

In other Paramount Resources news, insider Brenda Gail Riddell acquired 100,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were 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 business’s 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. Insiders own 45.36% of the company’s stock.

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.