Paramount Resources Ltd. (TSE:POU) to Issue $0.05 Monthly Dividend

Paramount Resources Ltd. (TSE:POU) announced a monthly dividend on Thursday, May 15th, TickerTech Dividends reports. Shareholders of record on Friday, May 30th will be paid a dividend of 0.05 per share on Friday, May 30th. This represents a $0.60 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Thursday, May 15th.

Paramount Resources Stock Up 3.0%

TSE POU traded up C$0.52 during trading hours on Tuesday, hitting C$17.63. The company’s stock had a trading volume of 44,938 shares, compared to its average volume of 853,320. The company has a current ratio of 0.62, a quick ratio of 0.68 and a debt-to-equity ratio of 2.06. The company has a market capitalization of C$2.62 billion, a PE ratio of 7.22, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. The company’s 50-day simple moving average is C$16.60 and its two-hundred day simple moving average is C$24.30. Paramount Resources has a 52 week low of C$14.33 and a 52 week high of C$33.06.

Analysts Set New Price Targets

A number of research analysts recently commented on POU shares. Scotiabank reduced their target price on Paramount Resources from C$46.00 to C$31.00 in a research note on Wednesday, February 19th. Raymond James set a C$20.00 price target on shares of Paramount Resources and gave the stock a “market perform” rating in a research note on Tuesday, April 8th. Royal Bank of Canada decreased their target price on shares of Paramount Resources from C$34.00 to C$19.00 in a research note on Tuesday, February 18th. BMO Capital Markets decreased their target price on shares of Paramount Resources from C$40.00 to C$25.00 in a research note on Wednesday, February 19th. Finally, National Bank Financial cut shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$23.00.

Insiders Place Their Bets

In related news, Senior Officer Rodrigo Sousa purchased 5,600 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of C$15.78 per share, for a total transaction of C$88,365.76. Also, Director Dirk Jungé acquired 2,000 shares of the stock in a transaction that occurred on Wednesday, April 9th. The stock was acquired at an average cost of C$14.80 per share, for a total transaction of C$29,595.90. Insiders have bought 10,600 shares of company stock valued at $164,838 over the last ninety days. Company insiders own 45.36% of the company’s stock.

Paramount Resources Company Profile

Paramount Resources Ltd is a Canadian energy company that explores, develops, produces, and markets natural gas, crude oil, and natural gas liquids. The company takes part in exploration and production in Alberta and British Columbia. Sales for Paramount’s products are priced in a multitude of markets that span the United States and Canada.