Paramount Resources Ltd. (TSE:POU) Director Purchases C$46,876.32 in Stock

Paramount Resources Ltd. (TSE:POU) Director Dirk Jungé acquired 3,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was bought at an average price of C$15.63 per share, with a total value of C$46,876.32.

Paramount Resources Stock Up 3.6 %

TSE:POU opened at C$16.58 on Thursday. The firm has a market cap of C$2.47 billion, a P/E ratio of 6.79, a P/E/G ratio of 0.14 and a beta of 3.04. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.68 and a current ratio of 0.62. Paramount Resources Ltd. has a fifty-two week low of C$14.33 and a fifty-two week high of C$33.06. The firm has a 50-day simple moving average of C$25.94 and a two-hundred day simple moving average of C$27.48.

Paramount Resources Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 28th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, February 20th. This represents a $0.60 dividend on an annualized basis and a yield of 3.62%. Paramount Resources’s dividend payout ratio is currently 73.70%.

Analyst Ratings Changes

Several brokerages have commented on POU. BMO Capital Markets decreased their price objective on shares of Paramount Resources from C$40.00 to C$25.00 in a report on Wednesday, February 19th. Cormark upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. CIBC decreased their price objective on shares of Paramount Resources from C$39.50 to C$24.50 in a report on Wednesday, February 19th. Scotiabank decreased their price target on shares of Paramount Resources from C$46.00 to C$31.00 in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group decreased their price target on shares of Paramount Resources from C$35.00 to C$21.00 in a research note on Monday, February 24th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$28.21.

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.