BMO Capital Markets Cuts Paramount Resources (TSE:POU) Price Target to C$25.00

Paramount Resources (TSE:POU) had its price objective reduced by BMO Capital Markets from C$40.00 to C$25.00 in a report issued on Wednesday morning,BayStreet.CA reports.

POU has been the subject of several other reports. CIBC lowered their price objective on Paramount Resources from C$39.50 to C$24.50 in a research report on Wednesday. Scotiabank lowered their price target on Paramount Resources from C$46.00 to C$31.00 in a report on Wednesday. Royal Bank of Canada reduced their price objective on shares of Paramount Resources from C$34.00 to C$19.00 in a report on Tuesday. Cormark raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 15th. Finally, Jefferies Financial Group dropped their price target on shares of Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$31.67.

Paramount Resources Trading Down 2.4 %

Shares of POU opened at C$17.65 on Wednesday. Paramount Resources has a 12-month low of C$16.60 and a 12-month high of C$33.06. The firm 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 firm has a 50-day moving average price of C$29.94 and a 200 day moving average price of C$28.63. The company has a current ratio of 0.62, a quick ratio of 0.68 and a debt-to-equity ratio of 2.06.

Paramount Resources Cuts Dividend

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

Insider Activity at Paramount Resources

In related news, Senior Officer Michael S. Han sold 8,320 shares of the firm’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. Also, insider Brenda Gail Riddell purchased 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of C$31.30 per share, with a total value of C$3,129,630.00. 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.