Paramount Resources (TSE:POU) Price Target Cut to C$25.00 by Analysts at BMO Capital Markets

Paramount Resources (TSE:POU - Free Report) had its target price reduced by BMO Capital Markets from C$40.00 to C$25.00 in a research note released on Wednesday,BayStreet.CA reports.

Other analysts have also recently issued reports about the company. Scotiabank dropped their price target on Paramount Resources from C$46.00 to C$31.00 in a research report on Wednesday. Cormark raised Paramount Resources from a "hold" rating to a "moderate buy" rating in a research note on Friday, November 15th. Royal Bank of Canada reduced their price objective on Paramount Resources from C$34.00 to C$19.00 in a research note on Tuesday. Jefferies Financial Group reduced their target price on Paramount Resources from C$37.00 to C$35.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Finally, CIBC reduced their target price on Paramount Resources from C$39.50 to C$24.50 in a report on Wednesday. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of C$31.67.

Paramount Resources Stock Down 2.4 %

POU stock traded down C$0.44 during midday trading on Wednesday, hitting C$17.65. 1,430,233 shares of the company's stock were exchanged, compared to its average volume of 1,027,952. The stock has a market capitalization of C$2.63 billion, a price-to-earnings ratio of 7.23, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. The company has a current ratio of 0.62, a quick ratio of 0.68 and a debt-to-equity ratio of 2.06. The firm has a 50 day moving average price of C$29.94 and a 200-day moving average price of C$28.63. Paramount Resources has a 12-month low of C$16.60 and a 12-month high of C$33.06.

Paramount Resources Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.05 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Thursday, February 20th. Paramount Resources's dividend payout ratio (DPR) is presently 73.70%.

Insider Transactions at Paramount Resources

In other news, Senior Officer Michael S. Han sold 8,320 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of C$30.86, for a total transaction of C$256,788.48. Also, insider Brenda Gail Riddell acquired 100,000 shares of Paramount Resources stock in a transaction dated Monday, November 25th. The shares were acquired at an average price of C$31.30 per share, with a total value of C$3,129,630.00. Company insiders own 45.36% of the company's stock.

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.