Paramount Resources Ltd. (TSE:POU) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Paramount Resources Ltd. (TSE:POU) has been assigned an average rating of “Moderate Buy” from the ten research firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$37.60.

Several equities research analysts have weighed in on the company. Royal Bank of Canada increased their price target on Paramount Resources from C$34.00 to C$37.00 in a research report on Friday, November 15th. CIBC raised their target price on Paramount Resources from C$38.00 to C$39.50 in a report on Friday, November 15th. Jefferies Financial Group decreased their price target on Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating for the company in a report on Monday, September 16th. Cibc World Mkts raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Cormark upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 15th.

Paramount Resources Stock Down 0.9 %

TSE:POU opened at C$30.50 on Friday. 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’s fifty day moving average price is C$28.66 and its 200-day moving average price is C$29.11. Paramount Resources has a 1-year low of C$24.51 and a 1-year high of C$33.06. The firm has a market capitalization of C$4.47 billion, a P/E ratio of 12.92, a PEG ratio of 0.14 and a beta of 3.04.

Paramount Resources Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.15 per share. This represents a $1.80 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Resources’s dividend payout ratio is presently 76.27%.

Insider Buying and Selling at Paramount Resources

In related news, Senior Officer Garth W.J. Stotts sold 12,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of C$31.02, for a total value of C$372,183.60. Also, Senior Officer David Blake Reid sold 68,000 shares of the firm’s 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. Insiders own 45.36% of the company’s stock.

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.