Paramount Resources Ltd. (TSE:POU) Senior Officer Sells C$2,101,200.00 in Stock

Paramount Resources Ltd. (TSE:POU) Senior Officer David Blake Reid sold 68,000 shares of Paramount Resources stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of C$30.90, for a total transaction of C$2,101,200.00.

Paramount Resources Price Performance

Shares of Paramount Resources stock opened at C$31.49 on Friday. The stock has a 50 day moving average price of C$27.29 and a 200-day moving average price of C$29.22. Paramount Resources Ltd. has a one year low of C$24.51 and a one year high of C$33.06. The stock has a market cap of C$4.62 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth 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.

Paramount Resources Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 29th will be paid a $0.15 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.72%. The ex-dividend date of this dividend is Friday, November 15th. Paramount Resources’s dividend payout ratio is currently 76.27%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on POU. CIBC increased their target price on Paramount Resources from C$38.00 to C$39.50 in a research report on Friday, November 15th. Royal Bank of Canada lifted their price target on shares of Paramount Resources from C$34.00 to C$37.00 in a report on Friday, November 15th. Cormark raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. Jefferies Financial Group reduced their target price on Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Finally, Scotiabank boosted their target price on Paramount Resources from C$43.00 to C$44.00 in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Paramount Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of C$37.60.

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.