Paramount Resources (TSE:POU) Price Target Raised to C$21.00 at Royal Bank of Canada

Paramount Resources (TSE:POU) had its price target increased by Royal Bank of Canada from C$19.00 to C$21.00 in a research note released on Thursday morning,BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

Other analysts have also issued reports about the stock. BMO Capital Markets cut their target price on shares of Paramount Resources from C$40.00 to C$25.00 in a research note on Wednesday, February 19th. National Bank Financial lowered shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. CIBC cut their target price on shares of Paramount Resources from C$24.50 to C$22.00 in a research note on Thursday, April 10th. Scotiabank cut their target price on shares of Paramount Resources from C$46.00 to C$31.00 in a research note on Wednesday, February 19th. Finally, Raymond James set a C$20.00 target price on shares of Paramount Resources and gave the stock a “market perform” rating in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Paramount Resources presently has an average rating of “Moderate Buy” and a consensus target price of C$23.33.

Paramount Resources Stock Down 0.4%

Shares of TSE:POU opened at C$19.09 on Thursday. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.62 and a quick ratio of 0.68. The firm has a market capitalization of C$2.84 billion, a PE ratio of 7.82, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. The firm’s 50-day moving average is C$17.04 and its two-hundred day moving average is C$23.86. Paramount Resources has a 1 year low of C$14.33 and a 1 year high of C$33.06.

Paramount Resources Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 30th will be paid a $0.05 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.60 annualized dividend and a yield of 3.14%. Paramount Resources’s dividend payout ratio is currently 73.70%.

Insider Buying and Selling at Paramount Resources

In related news, Director Dirk Jungé purchased 3,000 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were bought at an average cost of C$15.63 per share, for a total transaction of C$46,876.32. Also, Senior Officer Rodrigo Sousa purchased 5,600 shares of the company’s stock in a transaction on Friday, March 7th. The stock was bought at an average price of C$15.78 per share, for a total transaction of C$88,365.76. Insiders have purchased 10,600 shares of company stock worth $164,838 over the last three months. Insiders own 45.36% of the company’s stock.

About Paramount Resources

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.