Brokerages Set Paramount Resources Ltd. (TSE:POU) Price Target at C$26.88

Paramount Resources Ltd. (TSE:POU) has earned an average rating of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is C$26.88.

A number of equities research analysts have commented on the stock. Jefferies Financial Group cut their target price on shares of Paramount Resources from C$35.00 to C$21.00 in a research report on Monday, February 24th. BMO Capital Markets cut their price objective on Paramount Resources from C$40.00 to C$25.00 in a report on Wednesday, February 19th. National Bank Financial downgraded Paramount Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. CIBC cut their price target on Paramount Resources from C$24.50 to C$22.00 in a research note on Thursday, April 10th. Finally, Scotiabank reduced their price target on shares of Paramount Resources from C$46.00 to C$31.00 in a research report on Wednesday, February 19th.

Insider Activity at Paramount Resources

In other Paramount Resources news, Senior Officer Rodrigo Sousa acquired 5,600 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of C$15.78 per share, with a total value of C$88,365.76. Also, Director Dirk Jungé bought 3,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average price of C$15.63 per share, with a total value of C$46,876.32. In the last ninety days, insiders purchased 10,600 shares of company stock worth $164,838. 45.36% of the stock is owned by company insiders.

Paramount Resources Stock Up 0.1 %

POU opened at C$16.02 on Friday. The stock has a market capitalization of C$2.39 billion, a price-to-earnings ratio of 6.56, a PEG ratio of 0.14 and a beta of 3.04. The firm has a 50 day moving average price of C$18.97 and a 200-day moving average price of C$25.71. Paramount Resources has a twelve month low of C$14.33 and a twelve month high of C$33.06. 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 Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 30th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.75%. Paramount Resources’s payout ratio is currently 73.70%.

About Paramount Resources

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.