Insider Selling: Paramount Resources Ltd. (TSE:POU) Senior Officer Sells 10,000 Shares of Stock

Paramount Resources Ltd. (TSE:POU) Senior Officer Rodrigo Sousa sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of C$32.70, for a total transaction of C$327,014.00.

Rodrigo Sousa also recently made the following trade(s):

• On Wednesday, March 13th, Rodrigo Sousa sold 922 shares of Paramount Resources stock. The stock was sold at an average price of C$26.89, for a total value of C$24,794.79.

Paramount Resources Trading Up 0.5 %

Shares of Paramount Resources stock traded up C$0.16 on Wednesday, reaching C$32.79. The company had a trading volume of 211,023 shares, compared to its average volume of 264,260. The firm has a market cap of C$4.73 billion, a price-to-earnings ratio of 10.29, a P/E/G ratio of 0.14 and a beta of 3.23. The firm’s 50-day moving average price is C$28.92 and its two-hundred day moving average price is C$27.90. Paramount Resources Ltd. has a 1 year low of C$24.59 and a 1 year high of C$33.80. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.71 and a quick ratio of 0.68.

Paramount Resources (TSE:POU) last announced its quarterly earnings data on Wednesday, March 6th. The company reported C$0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.95 by C($0.20). Paramount Resources had a return on equity of 13.67% and a net margin of 26.13%. The firm had revenue of C$470.50 million during the quarter, compared to the consensus estimate of C$436.00 million. As a group, research analysts predict that Paramount Resources Ltd. will post 2.3708207 earnings per share for the current fiscal year.

Paramount Resources Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 31st will be paid a dividend of $0.15 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.49%. The ex-dividend date of this dividend is Tuesday, May 14th. This is an increase from Paramount Resources’s previous monthly dividend of $0.13. Paramount Resources’s payout ratio is currently 47.32%.

Wall Street Analyst Weigh In

A number of brokerages have commented on POU. Stifel Nicolaus upped their price target on Paramount Resources from C$36.00 to C$37.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. ATB Capital cut their price target on Paramount Resources from C$37.00 to C$36.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th. BMO Capital Markets raised their target price on shares of Paramount Resources from C$37.00 to C$38.50 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Scotiabank dropped their price objective on shares of Paramount Resources from C$30.00 to C$29.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Finally, CIBC lifted their target price on Paramount Resources from C$35.00 to C$37.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Paramount Resources currently has a consensus rating of “Moderate Buy” and an average price target of C$35.80.

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.