Paramount Resources Ltd. (TSE:POU) Senior Officer David Blake Reid Sells 68,000 Shares of Stock

Paramount Resources Ltd. (TSE:POU) Senior Officer David Blake Reid sold 68,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of C$30.90, for a total value of C$2,101,200.00.

Paramount Resources Price Performance

POU stock traded up C$0.34 during trading on Friday, reaching C$31.51. The company’s stock had a trading volume of 114,601 shares, compared to its average volume of 302,104. The company’s fifty day moving average is C$27.17 and its 200-day moving average is C$29.21. 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$4.62 billion, a P/E ratio of 13.21, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 0.83.

Paramount Resources Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 29th will be paid 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 5.71%. Paramount Resources’s payout ratio is 76.27%.

Wall Street Analysts Forecast Growth

POU has been the subject of several research reports. Jefferies Financial Group decreased their price target on shares of Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Cormark upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. Cibc World Mkts raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Scotiabank increased their price target on shares of Paramount Resources from C$43.00 to C$44.00 in a report on Friday, November 15th. Finally, Royal Bank of Canada upped their price target on Paramount Resources from C$34.00 to C$37.00 in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus 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.