Royal Bank of Canada Lowers Paramount Resources (TSE:POU) Price Target to C$19.00

Paramount Resources (TSE:POU - Free Report) had its price target lowered by Royal Bank of Canada from C$34.00 to C$19.00 in a report issued on Tuesday,BayStreet.CA reports.

A number of other brokerages also recently weighed in on POU. CIBC boosted their price target on shares of Paramount Resources from C$38.00 to C$39.50 in a report on Friday, November 15th. Scotiabank boosted their target price on shares of Paramount Resources from C$44.00 to C$46.00 in a research note on Friday, January 17th. Jefferies Financial Group decreased their price target 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, Cormark raised Paramount Resources from a "hold" rating to a "moderate buy" rating in a report on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Paramount Resources currently has an average rating of "Moderate Buy" and a consensus target price of C$31.67.

Paramount Resources Stock Performance

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

Paramount Resources Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 28th will be issued a $0.05 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Thursday, February 20th. Paramount Resources's payout ratio is currently 73.70%.

Insider Activity at Paramount Resources

In other news, Senior Officer Michael S. Han sold 8,320 shares of the firm's stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of C$30.86, for a total value of C$256,788.48. Also, insider Brenda Gail Riddell bought 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, for a total transaction of C$3,129,630.00. 45.36% of the stock is currently owned by corporate insiders.

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.