Paramount Resources Ltd. Declares Monthly Dividend of $0.15 (TSE:POU)

Paramount Resources Ltd. (TSE:POU) declared a monthly dividend on Monday, December 16th,TickerTech Dividends reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.15 per share on Tuesday, December 31st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date of this dividend is Monday, December 16th.

Paramount Resources Trading Down 0.9 %

POU stock traded down C$0.29 during mid-day trading on Friday, reaching C$30.50. 553,806 shares of the stock traded hands, compared to its average volume of 313,487. Paramount Resources has a one year low of C$24.51 and a one year high of C$33.06. The stock has a market capitalization of C$4.47 billion, a PE ratio of 12.92, a PEG ratio of 0.14 and a beta of 3.04. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.75. The business has a 50-day moving average price of C$28.66 and a two-hundred day moving average price of C$29.11.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on POU. Cibc World Mkts raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note 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 for the company in a report on Monday, September 16th. Cormark upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 15th. CIBC lifted their target price on Paramount Resources from C$38.00 to C$39.50 in a research report on Friday, November 15th. Finally, Scotiabank upped their price target on shares of Paramount Resources from C$43.00 to C$44.00 in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Paramount Resources has an average rating of “Moderate Buy” and a consensus target price of C$37.60.

Insider Activity

In other Paramount Resources news, Senior Officer Garth W.J. Stotts sold 12,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of C$31.02, for a total value of C$372,183.60. Also, Director Kimberley Elizabeth Lynch Proctor purchased 3,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was purchased at an average price of C$31.36 per share, for a total transaction of C$94,080.00. Company insiders own 45.36% of the company’s stock.

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.