Paramount Resources Ltd. (TSE:POU) to Issue Monthly Dividend of $0.15

Paramount Resources Ltd. (TSE:POU) declared a monthly dividend on Wednesday, January 15th,TickerTech Dividends reports. Investors of record on Friday, January 31st will be paid a dividend of 0.15 per share on Friday, January 31st. This represents a $1.80 annualized dividend and a dividend yield of 5.73%. The ex-dividend date of this dividend is Wednesday, January 15th.

Paramount Resources Stock Performance

POU stock traded down C$0.16 during midday trading on Monday, hitting C$31.43. The company’s stock had a trading volume of 33,595 shares, compared to its average volume of 294,852. Paramount Resources has a 1 year low of C$24.51 and a 1 year high of C$33.06. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 0.83. The stock’s 50-day moving average price is C$30.28 and its 200 day moving average price is C$28.96. The stock has a market cap of C$4.61 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 0.14 and a beta of 3.04.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. CIBC upped their price target on Paramount Resources from C$38.00 to C$39.50 in a research report on Friday, November 15th. Jefferies Financial Group decreased their price objective on Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Cormark upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 15th. Scotiabank boosted their price objective on Paramount Resources from C$43.00 to C$44.00 in a research note on Friday, November 15th. Finally, Royal Bank of Canada boosted their price objective on Paramount Resources from C$34.00 to C$37.00 in a research note on Friday, November 15th. Two 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$38.20.

Insider Activity

In related news, Director Kimberley Elizabeth Lynch Proctor bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was bought at an average cost of C$31.36 per share, for a total transaction of C$94,080.00. Also, Senior Officer Garth W.J. Stotts sold 12,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of C$31.02, for a total value of C$372,183.60. In the last three months, insiders have bought 103,248 shares of company stock worth $3,231,616 and have sold 88,320 shares worth $2,730,172. Corporate insiders own 45.36% of the company’s stock.

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.