BMO Capital Markets Issues Pessimistic Forecast for Paramount Resources (TSE:POU) Stock Price

Paramount Resources (TSE:POU) had its price objective decreased by BMO Capital Markets from C$40.00 to C$25.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports.

Other research analysts also recently issued reports about the stock. Jefferies Financial Group dropped their target price on shares of Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Royal Bank of Canada dropped their price objective on Paramount Resources from C$34.00 to C$19.00 in a report on Tuesday. Scotiabank cut their target price on Paramount Resources from C$46.00 to C$31.00 in a research report on Wednesday. Cormark raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. Finally, CIBC dropped their price target on Paramount Resources from C$39.50 to C$24.50 in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$31.67.

Paramount Resources Stock Performance

Shares of POU opened at C$17.65 on Wednesday. The company has a market capitalization of C$2.63 billion, a price-to-earnings ratio of 7.23, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. Paramount Resources has a 52-week low of C$16.60 and a 52-week 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. The stock has a 50 day moving average price of C$29.94 and a 200 day moving average price of C$28.63.

Paramount Resources Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 28th will be issued a $0.05 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Thursday, February 20th. Paramount Resources’s payout ratio is currently 73.70%.

Insider Transactions at Paramount Resources

In related news, Senior Officer Michael S. Han sold 8,320 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of C$30.86, for a total transaction of C$256,788.48. Also, insider Brenda Gail Riddell acquired 100,000 shares of the stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of C$31.30 per share, for a total transaction of C$3,129,630.00. Company insiders own 45.36% of the company’s stock.

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.