Paramount Resources Ltd. (TSE:POU) to Issue Monthly Dividend of $0.15

Paramount Resources Ltd. (TSE:POU) announced a monthly dividend on Monday, December 16th,TickerTech Dividends reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.15 per share on Tuesday, December 31st. This represents a $1.80 annualized dividend and a dividend yield of 5.90%. The ex-dividend date of this dividend is Monday, December 16th.

Paramount Resources Stock Down 0.9 %

POU traded down C$0.29 on Friday, reaching C$30.50. The company’s stock had a trading volume of 553,806 shares, compared to its average volume of 313,487. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 0.83. Paramount Resources has a fifty-two week low of C$24.51 and a fifty-two week high of C$33.06. The stock has a 50 day moving average of C$28.66 and a two-hundred day moving average of C$29.11. The company has a market capitalization of C$4.47 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 0.14 and a beta of 3.04.

Insider Buying and Selling

In other news, Senior Officer Garth W.J. Stotts sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of C$31.02, for a total value of C$372,183.60. Also, insider Brenda Gail Riddell purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average cost of C$31.30 per share, for a total transaction of C$3,129,630.00. Insiders own 45.36% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on POU. Cormark raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. Royal Bank of Canada raised their target price on shares of Paramount Resources from C$34.00 to C$37.00 in a research report on Friday, November 15th. CIBC upped their price target on shares of Paramount Resources from C$38.00 to C$39.50 in a research report on Friday, November 15th. Cibc World Mkts raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Scotiabank increased their target price on shares of Paramount Resources from C$43.00 to C$44.00 in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Paramount Resources has an average rating of “Moderate Buy” and an average target price of C$37.60.

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.