Brokerages Set Paramount Resources Ltd. (TSE:POU) Target Price at C$31.67

Paramount Resources Ltd. (TSE:POU) has been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$30.11.

A number of research firms have recently commented on POU. Scotiabank cut their price target on shares of Paramount Resources from C$46.00 to C$31.00 in a report on Wednesday, February 19th. Jefferies Financial Group lowered their price objective on shares of Paramount Resources from C$35.00 to C$21.00 in a research note on Monday. CIBC lowered their price objective on shares of Paramount Resources from C$39.50 to C$24.50 in a research note on Wednesday, February 19th. BMO Capital Markets lowered 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, Cormark raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 15th.

Paramount Resources Trading Down 0.8 %

TSE POU opened at C$16.99 on Thursday. The company’s 50-day moving average price is C$29.18 and its 200-day moving average price is C$28.39. 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$2.53 billion, a PE ratio of 6.96, a PEG ratio of 0.14 and a beta of 3.04. Paramount Resources has a 12 month low of C$16.60 and a 12 month high of C$33.06.

Paramount Resources Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 28th will be issued a $0.05 dividend. The ex-dividend date is Thursday, February 20th. This represents a $0.60 annualized dividend and a yield of 3.53%. Paramount Resources’s dividend payout ratio (DPR) is presently 73.70%.

Insider Buying and Selling

In related news, Senior Officer Michael S. Han sold 8,320 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of C$30.86, for a total value of C$256,788.48. 45.36% of the stock is owned by corporate insiders.

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.