Paramount Resources (TSE:POU) Hits New 1-Year Low - Here's What Happened

Shares of Paramount Resources Ltd. (TSE:POU - Get Free Report) hit a new 52-week low during trading on Friday . The stock traded as low as C$16.41 and last traded at C$16.60, with a volume of 50225 shares changing hands. The stock had previously closed at C$16.90.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. BMO Capital Markets cut their price target on shares of Paramount Resources from C$40.00 to C$25.00 in a research note on Wednesday, February 19th. Royal Bank of Canada dropped their price target on shares of Paramount Resources from C$34.00 to C$19.00 in a research note on Tuesday, February 18th. Scotiabank dropped their price target on shares of Paramount Resources from C$46.00 to C$31.00 in a research note on Wednesday, February 19th. Cormark raised shares of Paramount Resources from a "hold" rating to a "moderate buy" rating in a report on Friday, November 15th. Finally, Jefferies Financial Group reduced their price target on shares of Paramount Resources from C$35.00 to C$21.00 in a report on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Paramount Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of C$30.11.

Paramount Resources Price Performance

The company's 50-day simple moving average is C$27.79 and its 200 day simple moving average is C$28.00. The company has a quick ratio of 0.68, a current ratio of 0.62 and a debt-to-equity ratio of 2.06. The company has a market capitalization of C$2.25 billion, a P/E ratio of 6.18, a P/E/G ratio of 0.14 and a beta of 3.04.

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Paramount Resources Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 28th were paid a dividend of $0.05 per share. This represents a $0.60 annualized dividend and a yield of 3.97%. The ex-dividend date was Thursday, February 20th. Paramount Resources's payout ratio is currently 73.70%.

Insider Activity at Paramount Resources

In other Paramount Resources 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. Corporate 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.