Paramount Resources (TSE:POU) Reaches New 1-Year Low After Analyst Downgrade

Paramount Resources Ltd. (TSE:POU)’s stock price hit a new 52-week low on Tuesday after Royal Bank of Canada lowered their price target on the stock from C$34.00 to C$19.00. The company traded as low as C$16.60 and last traded at C$17.07, with a volume of 226184 shares traded. The stock had previously closed at C$31.75.

Several other brokerages have also recently issued reports on POU. Scotiabank lifted their target price on Paramount Resources from C$44.00 to C$46.00 in a research report on Friday, January 17th. Cormark raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. CIBC upped their price objective on shares of Paramount Resources from C$38.00 to C$39.50 in a research report on Friday, November 15th. Finally, Jefferies Financial Group dropped 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 report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$36.67.

Insider Transactions at Paramount Resources

In other Paramount Resources news, Senior Officer David Blake Reid sold 68,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of C$30.90, for a total value of C$2,101,200.00. Also, insider Brenda Gail Riddell bought 100,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was acquired at an average price of C$31.30 per share, for a total transaction of C$3,129,630.00. Insiders purchased a total of 103,248 shares of company stock worth $3,231,616 in the last quarter. Insiders own 45.36% of the company’s stock.

Paramount Resources Stock Performance

The company has a quick ratio of 0.68, a current ratio of 0.62 and a debt-to-equity ratio of 2.06. The company has a fifty day moving average price of C$30.70 and a 200 day moving average price of C$28.86. The stock has a market cap of C$2.70 billion, a PE ratio of 7.42, a P/E/G ratio of 0.14 and a beta of 3.04.

Paramount Resources Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 28th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $0.60 dividend on an annualized basis and a yield of 3.31%. Paramount Resources’s dividend payout ratio (DPR) is currently 73.70%.

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.