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

Paramount Resources Ltd. (TSE:POU) has been given a consensus rating of “Moderate Buy” by the ten ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is C$38.20.

Several equities research analysts have recently weighed in on POU shares. CIBC increased their price target on shares of Paramount Resources from C$38.00 to C$39.50 in a report on Friday, November 15th. Jefferies Financial Group lowered their target price on shares of Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Cibc World Mkts raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Cormark raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. Finally, Scotiabank boosted their target price on Paramount Resources from C$43.00 to C$44.00 in a research report on Friday, November 15th.

Paramount Resources Stock Performance

TSE:POU opened at C$32.13 on Wednesday. Paramount Resources has a 52-week low of C$24.51 and a 52-week high of C$33.06. The business’s fifty day moving average is C$29.80 and its 200 day moving average is C$28.95. 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 firm has a market cap of C$4.71 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 0.14 and a beta of 3.04.

Paramount Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 31st will be issued a $0.15 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date of this dividend is Wednesday, January 15th. Paramount Resources’s payout ratio is currently 76.27%.

Insider Activity

In other Paramount Resources news, Senior Officer Garth W.J. Stotts sold 12,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of C$31.02, for a total value of C$372,183.60. Also, Director Kimberley Elizabeth Lynch Proctor purchased 3,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were acquired at an average price of C$31.36 per share, with a total value of C$94,080.00. In the last three months, insiders have sold 88,320 shares of company stock worth $2,730,172. 45.36% of the stock is currently owned by 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.