Paramount Resources Ltd. (TSE:POU) Director Purchases C$94,080.00 in Stock

Paramount Resources Ltd. (TSE:POU) Director Kimberley Elizabeth Lynch Proctor bought 3,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were acquired at an average cost of C$31.36 per share, with a total value of C$94,080.00.

Paramount Resources Trading Down 1.0 %

Shares of Paramount Resources stock opened at C$30.82 on Wednesday. The firm has a market cap of C$4.52 billion, a PE ratio of 13.06, a P/E/G ratio of 0.14 and a beta of 3.04. Paramount Resources Ltd. has a 1 year low of C$24.51 and a 1 year high of C$33.06. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.75 and a quick ratio of 0.68. The stock has a fifty day moving average price of C$27.52 and a 200-day moving average price of C$29.20.

Paramount Resources Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 29th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.80 dividend on an annualized basis and a yield of 5.84%. Paramount Resources’s dividend payout ratio (DPR) is presently 76.27%.

Wall Street Analysts Forecast Growth

POU has been the subject of a number of analyst reports. Scotiabank lifted their price target on Paramount Resources from C$43.00 to C$44.00 in a research note on Friday, November 15th. 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 increased their price target on Paramount Resources from C$34.00 to C$37.00 in a research report on Friday, November 15th. CIBC raised their price objective on Paramount Resources from C$38.00 to C$39.50 in a research note on Friday, November 15th. Finally, Cibc World Mkts upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.