Paramount Resources Ltd. (TSE:POU) Insider Purchases C$3,129,630.00 in Stock

Paramount Resources Ltd. (TSE:POU) insider Brenda Gail Riddell acquired 100,000 shares of the stock in a transaction dated Monday, November 25th. The shares were bought at an average cost of C$31.30 per share, with a total value of C$3,129,630.00.

Paramount Resources Stock Down 0.1 %

Paramount Resources stock opened at C$31.02 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.75 and a quick ratio of 0.68. The company’s 50-day moving average is C$27.63 and its 200-day moving average is C$29.19. The firm has a market capitalization of C$4.55 billion, a PE ratio of 13.14, a P/E/G ratio of 0.14 and a beta of 3.04. Paramount Resources Ltd. has a fifty-two week low of C$24.51 and a fifty-two week high of C$33.06.

Paramount Resources Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 29th will be paid a $0.15 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.80 annualized dividend and a yield of 5.80%. Paramount Resources’s dividend payout ratio is 76.27%.

Analysts Set New Price Targets

POU has been the subject of a number of research reports. CIBC increased 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 lifted their target price on Paramount Resources from C$34.00 to C$37.00 in a research report on Friday, November 15th. Cormark raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. Jefferies Financial Group cut their price objective on shares of Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Finally, Scotiabank raised their target price on shares of Paramount Resources from C$43.00 to C$44.00 in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$37.60.

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.