Paramount Resources (TSE:POU) Reaches New 12-Month Low After Analyst Downgrade

Paramount Resources Ltd. (TSE:POU) reached a new 52-week low during mid-day trading on Tuesday after BMO Capital Markets lowered their price target on the stock from C$40.00 to C$25.00. The stock 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.

Other equities analysts have also issued reports about the stock. 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 report on Thursday, December 19th. Cormark raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. CIBC dropped their price objective on shares of Paramount Resources from C$39.50 to C$24.50 in a research report on Wednesday. Scotiabank decreased their price target on shares of Paramount Resources from C$46.00 to C$31.00 in a research note on Wednesday. Finally, Royal Bank of Canada decreased their price target on shares of Paramount Resources from C$34.00 to C$19.00 in a research note on Tuesday. 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$31.67.

Insider Activity at Paramount Resources

In other Paramount Resources news, Director Kimberley Elizabeth Lynch Proctor acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was acquired at an average price 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 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 transaction of C$256,788.48. Insiders acquired a total of 103,248 shares of company stock worth $3,231,616 in the last quarter. 45.36% of the stock is owned by insiders.

Paramount Resources Trading Up 0.9 %

The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.68 and a current ratio of 0.62. The firm’s fifty day simple moving average is C$30.19 and its 200-day simple moving average is C$28.71. The stock has a market cap of C$2.72 billion, a P/E ratio of 7.49, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04.

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 given a dividend of $0.05 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Thursday, February 20th. Paramount Resources’s dividend payout ratio (DPR) is 73.70%.

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.