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

Paramount Resources Ltd. (TSE:POU) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$28.21.

A number of research firms have issued reports on POU. Jefferies Financial Group cut their price target on Paramount Resources from C$35.00 to C$21.00 in a research note on Monday, February 24th. CIBC cut their price target on Paramount Resources from C$39.50 to C$24.50 in a research note on Wednesday, February 19th. BMO Capital Markets cut their price target on Paramount Resources from C$40.00 to C$25.00 in a research note on Wednesday, February 19th. National Bank Financial downgraded Paramount Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, Scotiabank cut their price objective on Paramount Resources from C$46.00 to C$31.00 in a research note on Wednesday, February 19th.

Paramount Resources Trading Down 0.2 %

Paramount Resources stock opened at C$17.51 on Monday. The business has a 50-day simple moving average of C$23.84 and a two-hundred day simple moving average of C$26.92. The company has a market cap of C$2.61 billion, a P/E ratio of 7.17, a P/E/G ratio of 0.14 and a beta of 3.04. Paramount Resources has a 52-week low of C$14.33 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.

Paramount Resources Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be issued a $0.05 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 3.43%. Paramount Resources’s dividend payout ratio is presently 73.70%.

Insider Buying and Selling

In other Paramount Resources news, Senior Officer Rodrigo Sousa purchased 5,600 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost of C$15.78 per share, with a total value of C$88,365.76. Also, Senior Officer Michael S. Han sold 8,320 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of C$30.86, for a total value of C$256,788.48. In the last three months, insiders have acquired 8,848 shares of company stock valued at $143,148. Corporate insiders own 45.36% of the company’s stock.

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.