Insider Selling: Paramount Resources Ltd. (TSE:POU) Director Sells 6,666 Shares of Stock

Paramount Resources Ltd. (TSE:POU) Director James Geral Bell sold 6,666 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of C$29.03, for a total transaction of C$193,513.98.

Paramount Resources Trading Up 1.0 %

Shares of POU stock opened at C$29.56 on Thursday. The company has a 50 day moving average of C$27.55 and a 200-day moving average of C$27.99. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of 0.83. Paramount Resources Ltd. has a 12-month low of C$24.59 and a 12-month high of C$33.80. The firm has a market cap of C$4.27 billion, a P/E ratio of 9.32, a PEG ratio of 0.14 and a beta of 3.31.

Paramount Resources (TSE:POU) last issued its quarterly earnings results on Wednesday, March 6th. The company reported C$0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.95 by C($0.20). Paramount Resources had a return on equity of 13.67% and a net margin of 26.13%. The company had revenue of C$470.50 million for the quarter, compared to analysts’ expectations of C$436.00 million. Sell-side analysts anticipate that Paramount Resources Ltd. will post 2.3138075 earnings per share for the current year.

Paramount Resources Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 30th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.50 dividend on an annualized basis and a yield of 5.07%. Paramount Resources’s dividend payout ratio is 47.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. BMO Capital Markets set a C$37.00 price objective on shares of Paramount Resources and gave the company an “outperform” rating in a research note on Tuesday. Cormark lowered shares of Paramount Resources from a “buy” rating to a “market perform” rating and decreased their price objective for the company from C$40.00 to C$37.50 in a research note on Thursday, March 7th. Raymond James decreased their price objective on shares of Paramount Resources from C$40.00 to C$36.00 and set an “outperform” rating for the company in a research note on Friday, January 19th. CIBC decreased their price objective on shares of Paramount Resources from C$32.50 to C$30.00 and set a “neutral” rating for the company in a research note on Thursday, March 7th. Finally, Scotiabank decreased their price objective on shares of Paramount Resources from C$30.00 to C$29.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$33.90.

Paramount Resources Company Profile

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.