Paramount Resources Ltd. (TSE:POU) Receives C$23.33 Consensus Target Price from Brokerages

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

POU has been the subject of several analyst reports. Scotiabank decreased their target price on shares of Paramount Resources from C$46.00 to C$31.00 in a research note on Wednesday, February 19th. CIBC lowered their target price on Paramount Resources from C$24.50 to C$22.00 in a research note on Thursday, April 10th. National Bank Financial lowered Paramount Resources from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. 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. Finally, Royal Bank of Canada increased their price objective on shares of Paramount Resources from C$19.00 to C$21.00 and gave the company a "sector perform" rating in a research note on Thursday, May 22nd.

Paramount Resources Stock Up 2.0%

TSE:POU traded up C$0.44 during mid-day trading on Monday, hitting C$22.43. The company had a trading volume of 688,487 shares, compared to its average volume of 785,939. The business has a fifty day simple moving average of C$17.81 and a 200-day simple moving average of C$22.81. The firm has a market capitalization of C$3.34 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 0.14 and a beta of 3.04. Paramount Resources has a 1 year low of C$14.33 and a 1 year high of C$32.83. The company has a current ratio of 0.62, a quick ratio of 0.68 and a debt-to-equity ratio of 2.06.

Paramount Resources Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.05 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Monday, June 16th. Paramount Resources's dividend payout ratio (DPR) is 73.70%.

Insiders Place Their Bets

In other news, Senior Officer Garth W.J. Stotts sold 5,122 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of C$19.16, for a total value of C$98,130.35. Also, Director Dirk Jungé purchased 2,000 shares of the stock in a transaction dated Wednesday, April 9th. The shares were acquired at an average cost of C$14.80 per share, for a total transaction of C$29,595.90. 45.36% of the stock is owned by insiders.

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.