Paramount Resources Ltd. (TSE:POU) Insider Buys C$3,129,630.00 in Stock

Paramount Resources Ltd. (TSE:POU) insider Brenda Gail Riddell bought 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average cost of C$31.30 per share, for a total transaction of C$3,129,630.00.

Paramount Resources Stock Performance

Paramount Resources stock traded down C$0.30 during midday trading on Tuesday, hitting C$30.82. 416,126 shares of the company’s stock were exchanged, compared to its average volume of 306,918. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.75. The stock has a market cap of C$4.52 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. Paramount Resources Ltd. has a 12-month low of C$24.51 and a 12-month high of C$33.06. The firm’s 50 day simple moving average is C$27.41 and its 200 day simple moving average is C$29.19.

Paramount Resources Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 29th will be issued a dividend of $0.15 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.84%. The ex-dividend date is Friday, November 15th. Paramount Resources’s dividend payout ratio is currently 76.27%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on POU shares. Jefferies Financial Group lowered their price objective on Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating for the company in a research report on Monday, September 16th. CIBC upped their price target on Paramount Resources from C$38.00 to C$39.50 in a report on Friday, November 15th. Cibc World Mkts raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Royal Bank of Canada upped their target price on shares of Paramount Resources from C$34.00 to C$37.00 in a report on Friday, November 15th. Finally, Cormark raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Paramount Resources presently has a consensus rating of “Moderate Buy” and an average 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.