Paramount Resources Ltd. (TSE:POU) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Paramount Resources Ltd. (TSE:POU - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the four analysts that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is C$23.67.

Several research analysts recently issued reports on the stock. CIBC reduced their target price on shares of Paramount Resources from C$24.50 to C$22.00 in a report on Thursday, April 10th. Raymond James Financial set a C$20.00 target price on Paramount Resources and gave the stock a "market perform" rating in a report on Tuesday, April 8th. Finally, Royal Bank Of Canada lifted their price target on shares of Paramount Resources from C$21.00 to C$23.00 and gave the company a "sector perform" rating in a research report on Monday, June 30th.

Paramount Resources Stock Up 0.9%

Shares of TSE POU traded up C$0.20 during midday trading on Friday, reaching C$21.84. 246,044 shares of the company's stock traded hands, compared to its average volume of 728,666. 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's 50 day simple moving average is C$20.10 and its 200-day simple moving average is C$21.55. Paramount Resources has a one year low of C$14.33 and a one year high of C$32.83. The company has a market cap of C$3.25 billion, a price-to-earnings ratio of 8.94, a P/E/G ratio of 0.14 and a beta of 3.04.

Paramount Resources Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 31st will be paid a $0.05 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Tuesday, July 15th. Paramount Resources's dividend payout ratio is 73.70%.

Insiders Place Their Bets

In other news, Senior Officer Garth W.J. Stotts sold 5,122 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of C$19.16, for a total transaction of C$98,130.35. Also, Senior Officer Rodrigo Sousa sold 43,535 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of C$21.85, for a total transaction of C$951,239.75. Company insiders own 45.36% of the company's stock.

Paramount Resources Company Profile

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.