Paramount Resources (TSE:POU) Given New C$39.00 Price Target at ATB Capital

Paramount Resources (TSE:POU – Get Rating) had its target price decreased by ATB Capital from C$40.00 to C$39.00 in a report issued on Wednesday morning, BayStreet.CA reports.

A number of other brokerages also recently issued reports on POU. BMO Capital Markets increased their price objective on Paramount Resources from C$35.00 to C$38.00 in a research report on Wednesday. Scotiabank lowered their price objective on Paramount Resources from C$36.00 to C$32.00 in a research report on Tuesday, January 17th. Finally, Stifel Nicolaus lowered their price objective on Paramount Resources from C$42.00 to C$41.00 in a research report on Monday, January 16th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Paramount Resources presently has an average rating of Moderate Buy and a consensus price target of C$39.50.

Paramount Resources Price Performance

Paramount Resources stock opened at C$30.01 on Wednesday. Paramount Resources has a one year low of C$22.16 and a one year high of C$40.73. The business has a fifty day moving average price of C$29.90 and a 200-day moving average price of C$28.97. The company has a debt-to-equity ratio of 10.64, a current ratio of 0.73 and a quick ratio of 0.68. The firm has a market capitalization of C$4.25 billion, a P/E ratio of 8.31, a PEG ratio of 0.14 and a beta of 3.56.

Paramount Resources Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 31st will be given a dividend of $0.125 per share. The ex-dividend date is Tuesday, March 14th. This represents a $1.50 dividend on an annualized basis and a yield of 5.00%. Paramount Resources’s payout ratio is 41.55%.

Insider Buying and Selling at Paramount Resources

In other news, Director James Geral Bell sold 2,278 shares of Paramount Resources stock in a transaction dated Thursday, January 12th. The stock was sold at an average price of C$30.57, for a total value of C$69,638.46. Following the transaction, the director now owns 30,991 shares in the company, valued at C$947,394.87. In other news, Director James Geral Bell sold 2,278 shares of Paramount Resources stock in a transaction dated Thursday, January 12th. The stock was sold at an average price of C$30.57, for a total value of C$69,638.46. Following the transaction, the director now owns 30,991 shares in the company, valued at C$947,394.87. Also, Senior Officer Bernard K. Lee acquired 1,000 shares of the firm’s stock in a transaction dated Monday, December 12th. The stock was bought at an average price of C$29.00 per share, for a total transaction of C$29,000.00. Following the acquisition, the insider now owns 25,502 shares of the company’s stock, valued at approximately C$739,558. Insiders have bought 1,800 shares of company stock worth $51,572 over the last 90 days. Corporate insiders own 35.35% of the company’s stock.

About Paramount Resources

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Paramount Resources Ltd., an independent energy company, explores for, develops, produces, and markets natural gas, crude oil, and natural gas liquids in Canada. The company's principal properties are the Montney and Duvernay developments located in Alberta and British Columbia. It also invests in public and private corporations.