Paramount Resources Ltd. (TSE:POU) Receives C$38.20 Average Target Price from Brokerages

Shares of Paramount Resources Ltd. (TSE:POU - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the ten brokerages that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is C$38.20.

POU has been the topic of a number of research reports. CIBC boosted their price objective on Paramount Resources from C$38.00 to C$39.50 in a research note on Friday, November 15th. 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. Cormark raised shares of Paramount Resources from a "hold" rating to a "moderate buy" rating in a research note on Friday, November 15th. Jefferies Financial Group cut their target price on shares of Paramount Resources from C$37.00 to C$35.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Finally, Scotiabank lifted their price target on shares of Paramount Resources from C$43.00 to C$44.00 in a research report on Friday, November 15th.

Insider Buying and Selling at Paramount Resources

In related news, Senior Officer David Blake Reid sold 68,000 shares of the business's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of C$30.90, for a total transaction of C$2,101,200.00. Also, Senior Officer Garth W.J. Stotts sold 12,000 shares of the company's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of C$31.02, for a total transaction of C$372,183.60. Insiders have sold a total of 88,320 shares of company stock valued at $2,730,172 in the last three months. 45.36% of the stock is currently owned by company insiders.

Paramount Resources Price Performance

TSE:POU traded up C$0.60 during midday trading on Wednesday, hitting C$31.82. 398,114 shares of the stock were exchanged, compared to its average volume of 322,774. The company has a market capitalization of C$4.67 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 0.14 and a beta of 3.04. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83. Paramount Resources has a one year low of C$24.51 and a one year high of C$33.06. The business has a 50-day moving average price of C$29.58 and a two-hundred day moving average price of C$28.96.

Paramount Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.15 per share. This represents a $1.80 annualized dividend and a yield of 5.66%. The ex-dividend date of this dividend was Monday, December 16th. Paramount Resources's payout ratio is 76.27%.

Paramount Resources Company Profile

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.