David Blake Reid Sells 68,000 Shares of Paramount Resources Ltd. (TSE:POU) Stock

Paramount Resources Ltd. (TSE:POU) Senior Officer David Blake Reid sold 68,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of C$30.90, for a total value of C$2,101,200.00.

Paramount Resources Price Performance

Paramount Resources stock traded up C$0.31 during mid-day trading on Thursday, hitting C$31.16. The stock had a trading volume of 151,360 shares, compared to its average volume of 302,030. 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 Ltd. has a one year low of C$24.51 and a one year high of C$33.06. The firm’s 50 day moving average is C$27.07 and its 200 day moving average is C$29.21. The firm has a market capitalization of C$4.57 billion, a P/E ratio of 13.07, a P/E/G ratio of 0.14 and a beta of 3.04.

Paramount Resources Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 29th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, November 15th. This represents a $1.80 annualized dividend and a dividend yield of 5.78%. Paramount Resources’s dividend payout ratio (DPR) is presently 76.27%.

Analyst Upgrades and Downgrades

POU has been the topic of a number of recent research reports. Cormark upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. Scotiabank lifted their price target on shares of Paramount Resources from C$43.00 to C$44.00 in a report on Friday, November 15th. Royal Bank of Canada increased their price objective on Paramount Resources from C$34.00 to C$37.00 in a report on Friday, November 15th. Cibc World Mkts raised Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Jefferies Financial Group cut their target price on shares of Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$37.60.

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.