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

Shares of Paramount Resources Ltd. (TSE:POU) have received a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is C$38.20.

A number of research firms have commented on POU. Cormark raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. 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. CIBC raised their target price on shares of Paramount Resources from C$38.00 to C$39.50 in a research note on Friday, November 15th. Scotiabank lifted their price target on Paramount Resources from C$43.00 to C$44.00 in a research report on Friday, November 15th. Finally, Cibc World Mkts upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th.

Insiders Place Their Bets

In related news, Director Kimberley Elizabeth Lynch Proctor bought 3,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was bought at an average price of C$31.36 per share, with a total value of C$94,080.00. Also, insider Brenda Gail Riddell purchased 100,000 shares of the stock in a transaction dated Monday, November 25th. The shares were bought at an average price of C$31.30 per share, for a total transaction of C$3,129,630.00. In the last ninety days, insiders sold 88,320 shares of company stock worth $2,730,172. 45.36% of the stock is currently owned by company insiders.

Paramount Resources Stock Up 1.9 %

TSE:POU opened at C$31.82 on Wednesday. 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 quick ratio of 0.68 and a current ratio of 0.75. The company has a market capitalization of C$4.67 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. The stock has a 50-day simple moving average of C$29.48 and a 200 day simple moving average of C$28.94.

Paramount Resources Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were paid a $0.15 dividend. This represents a $1.80 annualized dividend and a yield of 5.66%. The ex-dividend date was Monday, December 16th. Paramount Resources’s dividend payout ratio is currently 76.27%.

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.