Insider Selling: Paramount Resources Ltd. (TSE:POU) Senior Officer Sells 12,000 Shares of Stock

Paramount Resources Ltd. (TSE:POU) Senior Officer Garth W.J. Stotts sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of C$31.02, for a total transaction of C$372,183.60.

Paramount Resources Stock Up 1.0 %

Shares of Paramount Resources stock opened at C$30.85 on Thursday. Paramount Resources Ltd. has a 1-year low of C$24.51 and a 1-year high of C$33.06. The company has a market capitalization of C$4.53 billion, a PE ratio of 12.94, a P/E/G ratio of 0.14 and a beta of 3.04. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.75 and a quick ratio of 0.68. The business has a 50-day moving average of C$26.98 and a 200-day moving average of C$29.22.

Paramount Resources Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, November 15th. This represents a $1.80 annualized dividend and a yield of 5.83%. Paramount Resources’s dividend payout ratio is presently 76.27%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Cormark raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 15th. CIBC increased their target price on Paramount Resources from C$38.00 to C$39.50 in a research report on Friday, November 15th. Jefferies Financial Group decreased their target price on shares of Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Scotiabank lifted their price objective on Paramount Resources from C$43.00 to C$44.00 in a research note on Friday, November 15th. Finally, Cibc World Mkts upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$37.60.

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.