Brenda Gail Riddell Buys 100,000 Shares of Paramount Resources Ltd. (TSE:POU) Stock

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

Paramount Resources Stock Performance

The company’s 50-day moving average price is C$27.52 and its 200 day moving average price is C$29.20. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83. The company has a market capitalization of C$4.56 billion, a PE ratio of 13.06, a PEG ratio of 0.14 and a beta of 3.04. Paramount Resources Ltd. has a 1 year low of C$24.51 and a 1 year high of C$33.06.

Paramount Resources Dividend Announcement

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

Analyst Ratings Changes

POU has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price target on shares of Paramount Resources from C$34.00 to C$37.00 in a report on Friday, November 15th. Cibc World Mkts raised Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Scotiabank raised their target price on Paramount Resources from C$43.00 to C$44.00 in a report on Friday, November 15th. CIBC upped their price target on Paramount Resources from C$38.00 to C$39.50 in a report on Friday, November 15th. Finally, Jefferies Financial Group reduced their price objective on Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.