Paramount Resources Ltd. (TSE:POU) Receives C$37.60 Consensus PT from Brokerages

Shares of Paramount Resources Ltd. (TSE:POU) have been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is C$37.60.

POU has been the topic of several recent research reports. Royal Bank of Canada lifted their target price on Paramount Resources from C$34.00 to C$37.00 in a report on Friday, November 15th. Jefferies Financial Group cut their target price on Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating on the stock in a report on Monday, September 16th. CIBC lifted their target price on Paramount Resources from C$38.00 to C$39.50 in a report on Friday, November 15th. Scotiabank lifted their target price on Paramount Resources from C$43.00 to C$44.00 in a report on Friday, November 15th. Finally, Cormark raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th.

Paramount Resources Trading Up 1.2 %

TSE POU opened at C$30.58 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 0.83. Paramount Resources has a twelve month low of C$24.51 and a twelve month high of C$33.06. The company has a market cap of C$4.49 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. The business’s fifty day moving average is C$28.36 and its 200 day moving average is C$29.10.

Paramount Resources Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 29th were given a $0.15 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.89%. The ex-dividend date was Friday, November 15th. Paramount Resources’s dividend payout ratio (DPR) is presently 76.27%.

Insider Transactions at Paramount Resources

In related news, Senior Officer David Blake Reid sold 68,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of C$30.90, for a total value of C$2,101,200.00. Also, Director Kimberley Elizabeth Lynch Proctor bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average cost of C$31.36 per share, with a total value of C$94,080.00. Corporate insiders own 45.36% of the company’s stock.

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.