Paramount Resources Ltd. (TSE:POU) Senior Officer Sells C$2,101,200.00 in Stock

Paramount Resources Ltd. (TSE:POU) Senior Officer David Blake Reid sold 68,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of C$30.90, for a total transaction of C$2,101,200.00.

Paramount Resources Stock Up 1.0 %

TSE POU traded up C$0.31 during trading hours on Thursday, hitting C$31.16. 151,360 shares of the company traded hands, compared to its average volume of 302,030. Paramount Resources Ltd. has a twelve month low of C$24.51 and a twelve month high of C$33.06. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.75. The stock has a market capitalization of C$4.57 billion, a price-to-earnings ratio of 13.07, a P/E/G ratio of 0.14 and a beta of 3.04. The business’s 50-day moving average is C$27.07 and its 200-day moving average is C$29.21.

Paramount Resources Dividend Announcement

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 issued a dividend of $0.15 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.78%. The ex-dividend date of this dividend is Friday, November 15th. Paramount Resources’s dividend payout ratio is currently 76.27%.

Wall Street Analyst Weigh In

POU has been the topic of a number of recent analyst reports. Cibc World Mkts upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Jefferies Financial Group reduced their price target on shares of Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Cormark upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. CIBC increased their price target on Paramount Resources from C$38.00 to C$39.50 in a research report on Friday, November 15th. Finally, Scotiabank upped their price objective on shares of Paramount Resources from C$43.00 to C$44.00 in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Paramount Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of C$37.60.

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.