Paramount Resources Ltd. (TSE:POU) Receives Average Rating of “Moderate Buy” from Analysts

Paramount Resources Ltd. (TSE:POU) has earned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$28.21.

POU has been the subject of a number of research analyst reports. National Bank Financial cut shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Scotiabank lowered their price objective on shares of Paramount Resources from C$46.00 to C$31.00 in a research report on Wednesday, February 19th. Jefferies Financial Group lowered their price objective on shares of Paramount Resources from C$35.00 to C$21.00 in a research report on Monday, February 24th. BMO Capital Markets lowered their price objective on shares of Paramount Resources from C$40.00 to C$25.00 in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada lowered their price objective on shares of Paramount Resources from C$34.00 to C$19.00 in a research report on Tuesday, February 18th.

Paramount Resources Stock Performance

Paramount Resources stock opened at C$17.51 on Monday. The firm has a 50 day simple moving average of C$23.84 and a 200-day simple moving average of C$26.93. Paramount Resources has a 1-year low of C$14.33 and a 1-year high of C$33.06. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.62 and a quick ratio of 0.68. The stock has a market cap of C$2.61 billion, a price-to-earnings ratio of 7.17, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04.

Paramount Resources Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.60 annualized dividend and a yield of 3.43%. Paramount Resources’s dividend payout ratio is presently 73.70%.

Insider Activity

In other Paramount Resources news, Director Dirk Jungé acquired 3,000 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were bought at an average cost of C$15.63 per share, for a total transaction of C$46,876.32. Also, Senior Officer Michael S. Han sold 8,320 shares of Paramount Resources stock in a transaction 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. In the last three months, insiders have bought 8,848 shares of company stock worth $143,148. 45.36% of the stock is currently owned by corporate insiders.

About Paramount Resources

Paramount Resources Ltd is a Canadian energy company that explores, develops, produces, and markets natural gas, crude oil, and natural gas liquids. The company takes part in exploration and production in Alberta and British Columbia. Sales for Paramount’s products are priced in a multitude of markets that span the United States and Canada.