Paramount Resources Ltd. (POU) to Issue Monthly Dividend of $0.15 on January 31st

Paramount Resources Ltd. (TSE:POU) declared a monthly dividend on Wednesday, January 15th,TickerTech Dividends reports. Investors of record on Friday, January 31st will be paid a dividend of 0.15 per share on Friday, January 31st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date of this dividend is Wednesday, January 15th.

Paramount Resources Stock Performance

POU traded up C$0.01 during midday trading on Monday, reaching C$31.60. The company’s stock had a trading volume of 43,338 shares, compared to its average volume of 296,400. The stock has a market cap of C$4.64 billion, a P/E ratio of 13.39, a PEG ratio of 0.14 and a beta of 3.04. The company has a fifty day simple moving average of C$30.28 and a 200 day simple moving average of C$28.96. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83. Paramount Resources has a twelve month low of C$24.51 and a twelve month high of C$33.06.

Insider Activity at Paramount Resources

In other news, insider Brenda Gail Riddell bought 100,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average price of C$31.30 per share, for a total transaction of C$3,129,630.00. Also, Director Kimberley Elizabeth Lynch Proctor purchased 3,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was bought at an average price of C$31.36 per share, for a total transaction of C$94,080.00. Over the last 90 days, insiders bought 103,248 shares of company stock valued at $3,231,616 and sold 88,320 shares valued at $2,730,172. 45.36% of the stock is owned by insiders.

Analysts Set New Price Targets

POU has been the subject of several research analyst reports. Scotiabank lifted their price objective on Paramount Resources from C$43.00 to C$44.00 in a research report on Friday, November 15th. CIBC lifted their price objective on Paramount Resources from C$38.00 to C$39.50 in a research note on Friday, November 15th. Cibc World Mkts raised Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Cormark raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. Finally, Royal Bank of Canada upped their target price 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$38.20.

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.