Paramount Resources Ltd. (TSE:POU) Receives C$26.88 Average PT from Analysts

Shares of Paramount Resources Ltd. (TSE:POU) have been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$26.88.

A number of research analysts have weighed in on POU shares. Jefferies Financial Group decreased their price target on Paramount Resources from C$35.00 to C$21.00 in a research note on Monday, February 24th. CIBC decreased their target price on shares of Paramount Resources from C$24.50 to C$22.00 in a research note on Thursday. National Bank Financial lowered shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. BMO Capital Markets decreased 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, Scotiabank lowered their price objective on shares of Paramount Resources from C$46.00 to C$31.00 in a research note on Wednesday, February 19th.

Insider Transactions at Paramount Resources

In other news, Senior Officer Rodrigo Sousa bought 5,600 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were bought at an average price of C$15.78 per share, with a total value of C$88,365.76. Also, Director Dirk Jungé bought 2,000 shares of the stock in a transaction dated Wednesday, April 9th. The shares were purchased at an average price of C$14.80 per share, for a total transaction of C$29,595.90. In the last 90 days, insiders purchased 10,600 shares of company stock worth $164,838. 45.36% of the stock is owned by insiders.

Paramount Resources Price Performance

Shares of TSE POU opened at C$15.94 on Friday. 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 business has a 50-day moving average of C$19.58 and a 200-day moving average of C$25.85. The stock has a market capitalization of C$2.37 billion, a price-to-earnings ratio of 6.53, a PEG ratio of 0.14 and a beta of 3.04. Paramount Resources has a fifty-two week low of C$14.33 and a fifty-two week high of C$33.06.

Paramount Resources Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 30th will be given a $0.05 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Tuesday, April 15th. Paramount Resources’s payout ratio is presently 73.70%.

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.