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

Paramount Resources Ltd. (TSE:POU) Director Kimberley Elizabeth Lynch Proctor purchased 3,000 shares of Paramount Resources stock in a transaction that occurred on Friday, November 22nd. The shares were bought at an average price of C$31.36 per share, with a total value of C$94,080.00.

Paramount Resources Price Performance

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 50-day moving average price of C$27.52 and a 200 day moving average price of C$29.20. The firm has a market capitalization of C$4.56 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 0.14 and a beta of 3.04. Paramount Resources Ltd. has a 12 month low of C$24.51 and a 12 month high of C$33.06.

Paramount Resources Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 29th will be paid a $0.15 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of ∞. The ex-dividend date is Friday, November 15th. Paramount Resources’s dividend payout ratio is presently 76.27%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on POU. Scotiabank lifted their price target on Paramount Resources from C$43.00 to C$44.00 in a research report on Friday, November 15th. Cibc World Mkts upgraded Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Jefferies Financial Group dropped their price objective on Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Cormark raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. Finally, Royal Bank of Canada raised their price objective on Paramount Resources from C$34.00 to C$37.00 in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Paramount Resources 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.