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 Paramount Resources stock in a transaction on Monday, November 18th. The stock was sold at an average price of C$31.02, for a total transaction of C$372,183.60.

Paramount Resources Price Performance

POU opened at C$31.01 on Tuesday. The company has a market cap of C$4.55 billion, a P/E ratio of 13.14, a PEG ratio of 0.14 and a beta of 3.04. The firm’s 50-day moving average is C$26.82. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.75 and a quick ratio of 0.68. Paramount Resources Ltd. has a 52 week low of C$24.51 and a 52 week high of C$33.06.

Paramount Resources Dividend Announcement

The company also recently declared 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. This represents a $1.80 annualized dividend and a yield of 5.80%. The ex-dividend date is Friday, November 15th. Paramount Resources’s dividend payout ratio is presently 76.27%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on POU shares. Cibc World Mkts upgraded Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. CIBC boosted their price objective on Paramount Resources from C$38.00 to C$39.50 in a research note on Friday. Royal Bank of Canada upped their price target on shares of Paramount Resources from C$34.00 to C$37.00 in a research report on Friday. Cormark upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday. Finally, Scotiabank lifted their target price on shares of Paramount Resources from C$43.00 to C$44.00 in a research note on Friday. Two equities research 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.