Brokerages Set Paramount Resources Ltd. (TSE:POU) Target Price at C$28.21

Paramount Resources Ltd. (TSE:POU - Get Free Report) has received an average recommendation of "Moderate Buy" from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is C$28.21.

Several brokerages recently commented on POU. BMO Capital Markets reduced their target price on shares of Paramount Resources from C$40.00 to C$25.00 in a report on Wednesday, February 19th. Royal Bank of Canada reduced their target price on shares of Paramount Resources from C$34.00 to C$19.00 in a report on Tuesday, February 18th. Scotiabank reduced their target price on shares of Paramount Resources from C$46.00 to C$31.00 in a report on Wednesday, February 19th. 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. Finally, CIBC dropped their price target on shares of Paramount Resources from C$39.50 to C$24.50 in a research report on Wednesday, February 19th.

Paramount Resources Stock Up 2.4 %

Shares of Paramount Resources stock traded up C$0.41 on Monday, hitting C$17.54. The company had a trading volume of 547,584 shares, compared to its average volume of 1,010,252. The firm has a market capitalization of C$2.61 billion, a P/E ratio of 7.18, a P/E/G ratio of 0.14 and a beta of 3.04. Paramount Resources has a twelve month low of C$14.33 and a twelve month 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 50-day moving average of C$24.41 and a 200-day moving average of C$27.09.

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Paramount Resources Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be given a $0.05 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Monday, March 17th. Paramount Resources's payout ratio is presently 73.70%.

Insider Buying and Selling

In related news, Senior Officer Michael S. Han sold 8,320 shares of the firm's 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, Senior Officer Rodrigo Sousa purchased 5,600 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of C$15.78 per share, for a total transaction of C$88,365.76. Over the last three months, insiders have acquired 8,848 shares of company stock valued at $143,148. 45.36% of the stock is owned by company insiders.

Paramount Resources Company Profile

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.