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

Paramount Resources Ltd. (TSE:POU - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the four brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is C$23.33.

A number of brokerages have commented on POU. Royal Bank Of Canada lifted their price target on Paramount Resources from C$19.00 to C$21.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 22nd. CIBC dropped their target price on Paramount Resources from C$24.50 to C$22.00 in a research report on Thursday, April 10th. Scotiabank decreased their price objective on shares of Paramount Resources from C$46.00 to C$31.00 in a research note on Wednesday, February 19th. BMO Capital Markets cut their price objective on shares of Paramount Resources from C$40.00 to C$25.00 in a research note on Wednesday, February 19th. Finally, Raymond James Financial set a C$20.00 target price on shares of Paramount Resources and gave the company a "market perform" rating in a research report on Tuesday, April 8th.

Insider Transactions at Paramount Resources

In other news, Director Dirk Jungé acquired 2,000 shares of the stock in a transaction that occurred on Wednesday, April 9th. The shares were bought at an average cost of C$14.80 per share, for a total transaction of C$29,595.90. Also, Senior Officer Rodrigo Sousa sold 43,535 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of C$21.85, for a total value of C$951,239.75. Corporate insiders own 45.36% of the company's stock.

Paramount Resources Stock Performance

Shares of TSE POU traded up C$0.64 during midday trading on Monday, reaching C$23.10. The company had a trading volume of 217,310 shares, compared to its average volume of 772,200. Paramount Resources has a 1 year low of C$14.33 and a 1 year high of C$32.83. The business's 50-day simple moving average is C$18.20 and its 200 day simple moving average is C$22.69. The company has a current ratio of 0.62, a quick ratio of 0.68 and a debt-to-equity ratio of 2.06. The stock has a market cap of C$3.44 billion, a P/E ratio of 9.46, a P/E/G ratio of 0.14 and a beta of 3.04.

Paramount Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 30th will be given a $0.05 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.60%. Paramount Resources's dividend payout ratio (DPR) is currently 73.70%.

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.