Paramount Resources Ltd. (TSE:POU) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Paramount Resources Ltd. (TSE:POU) have been given an average recommendation of “Moderate Buy” by the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is C$38.20.

Several equities research analysts have recently commented on the company. Jefferies Financial Group decreased their price objective on Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Royal Bank of Canada upped their price objective on shares of Paramount Resources from C$34.00 to C$37.00 in a report on Friday, November 15th. Cormark upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. CIBC upped their target price on shares of Paramount Resources from C$38.00 to C$39.50 in a report on Friday, November 15th. Finally, Scotiabank raised their price target on shares of Paramount Resources from C$43.00 to C$44.00 in a research report on Friday, November 15th.

Insiders Place Their Bets

In other news, Director Kimberley Elizabeth Lynch Proctor bought 3,000 shares of the stock in a transaction on Friday, November 22nd. The shares were purchased at an average cost of C$31.36 per share, for a total transaction of C$94,080.00. Also, Senior Officer Michael S. Han sold 8,320 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of C$30.86, for a total value of C$256,788.48. Over the last 90 days, insiders have sold 88,320 shares of company stock valued at $2,730,172. Company insiders own 45.36% of the company’s stock.

Paramount Resources Stock Performance

Shares of POU opened at C$32.13 on Wednesday. The stock has a 50-day moving average of C$29.80 and a 200-day moving average of C$28.95. Paramount Resources has a one year low of C$24.51 and a one year high of C$33.06. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.75 and a quick ratio of 0.68. The company has a market cap of C$4.71 billion, a PE ratio of 13.61, a P/E/G ratio of 0.14 and a beta of 3.04.

Paramount Resources Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 31st will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, January 15th. This represents a $1.80 annualized dividend and a yield of 5.60%. Paramount Resources’s payout ratio is currently 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.