Paramount Resources Ltd. (TSE:POU) Director Purchases C$46,876.32 in Stock

Paramount Resources Ltd. (TSE:POU) Director Dirk Jungé purchased 3,000 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was purchased at an average cost of C$15.63 per share, for a total transaction of C$46,876.32.

Paramount Resources Price Performance

TSE:POU opened at C$15.99 on Tuesday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.68 and a current ratio of 0.62. The stock’s 50-day simple moving average is C$26.56 and its 200 day simple moving average is C$27.64. The company has a market cap of C$2.38 billion, a P/E ratio of 6.55, a P/E/G ratio of 0.14 and a beta of 3.04. Paramount Resources Ltd. has a 52-week low of C$14.33 and a 52-week high of C$33.06.

Paramount Resources Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 28th were given a $0.05 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend was Thursday, February 20th. Paramount Resources’s dividend payout ratio is currently 73.70%.

Analysts Set New Price Targets

Several research firms have issued reports on POU. National Bank Financial downgraded Paramount Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. BMO Capital Markets dropped their price target on Paramount Resources from C$40.00 to C$25.00 in a research note on Wednesday, February 19th. Scotiabank dropped their price target on Paramount Resources from C$46.00 to C$31.00 in a research note on Wednesday, February 19th. Cormark raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 15th. Finally, Royal Bank of Canada dropped their price target on Paramount Resources from C$34.00 to C$19.00 in a research note on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Paramount Resources presently has an average rating of “Moderate Buy” and a consensus target price of C$28.21.

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.