Paramount Resources (TSE:POU) Price Target Cut to C$31.00 by Analysts at Scotiabank

Paramount Resources (TSE:POU) had its price objective cut by Scotiabank from C$46.00 to C$31.00 in a report published on Wednesday,BayStreet.CA reports.

Several other research analysts have also weighed in on POU. Cormark raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. CIBC upped their target price on Paramount Resources from C$38.00 to C$39.50 in a report on Friday, November 15th. Royal Bank of Canada decreased their price target on shares of Paramount Resources from C$34.00 to C$19.00 in a report on Tuesday. Finally, Jefferies Financial Group dropped their price objective 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. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Paramount Resources presently has a consensus rating of “Moderate Buy” and an average target price of C$31.67.

Paramount Resources Trading Up 0.9 %

TSE POU opened at C$18.29 on Wednesday. The firm’s 50 day moving average price is C$30.19 and its two-hundred day moving average price is C$28.71. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.68 and a current ratio of 0.62. Paramount Resources has a twelve month low of C$16.60 and a twelve month high of C$33.06. The stock has a market cap of C$2.72 billion, a price-to-earnings ratio of 7.49, a PEG ratio of 0.14 and a beta of 3.04.

Paramount Resources Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 28th will be given a $0.05 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Thursday, February 20th. Paramount Resources’s dividend payout ratio is 73.70%.

Insider Activity at Paramount Resources

In other Paramount Resources news, Director Kimberley Elizabeth Lynch Proctor purchased 3,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was bought at an average cost of C$31.36 per share, for a total transaction of C$94,080.00. Also, Senior Officer Michael S. Han sold 8,320 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of C$30.86, for a total transaction of C$256,788.48. In the last three months, insiders have bought 103,248 shares of company stock worth $3,231,616. 45.36% of the stock is 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.