Insider Buying: Paramount Resources Ltd. (TSE:POU) Senior Officer Acquires C$88,365.76 in Stock

Paramount Resources Ltd. (TSE:POU) Senior Officer Rodrigo Sousa purchased 5,600 shares of Paramount Resources stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of C$15.78 per share, for a total transaction of C$88,365.76.

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

• On Friday, January 10th, Rodrigo Sousa purchased 248 shares of Paramount Resources stock. The shares were bought at an average price of C$31.88 per share, for a total transaction of C$7,906.24.

Paramount Resources Stock Performance

Shares of TSE:POU opened at C$16.58 on Thursday. The company has a market capitalization of C$2.47 billion, a price-to-earnings ratio of 6.79, a P/E/G ratio of 0.14 and a beta of 3.04. The firm’s 50 day simple moving average is C$25.94 and its 200 day simple moving average is C$27.48. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.62 and a quick ratio of 0.68. Paramount Resources Ltd. has a fifty-two week low of C$14.33 and a fifty-two week high of C$33.06.

Paramount Resources Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 28th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.62%. Paramount Resources’s dividend payout ratio is 73.70%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Jefferies Financial Group cut their target price on shares of Paramount Resources from C$35.00 to C$21.00 in a research report on Monday, February 24th. National Bank Financial downgraded shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. CIBC cut their target price on shares of Paramount Resources from C$39.50 to C$24.50 in a research report on Wednesday, February 19th. Scotiabank cut their target price on shares of Paramount Resources from C$46.00 to C$31.00 in a research report on Wednesday, February 19th. Finally, Cormark upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$28.21.

Paramount Resources Company Profile

Paramount Resources Ltd is a Canadian energy company that explores, develops, produces, and markets natural gas, crude oil, and natural gas liquids. The company takes part in exploration and production in Alberta and British Columbia. Sales for Paramount’s products are priced in a multitude of markets that span the United States and Canada.