Insider Buying: Paramount Resources Ltd. (TSE:POU) Insider Acquires 100,000 Shares of Stock

Paramount Resources Ltd. (TSE:POU) insider Brenda Gail Riddell acquired 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of C$31.30 per share, for a total transaction of C$3,129,630.00.

Paramount Resources Stock Down 1.0 %

Paramount Resources stock traded down C$0.30 during mid-day trading on Tuesday, reaching C$30.82. 416,126 shares of the company’s stock were exchanged, compared to its average volume of 306,918. 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 Ltd. has a twelve month low of C$24.51 and a twelve month high of C$33.06. The company has a market cap of C$4.52 billion, a P/E ratio of 13.19, a P/E/G ratio of 0.14 and a beta of 3.04. The company has a fifty day moving average of C$27.41 and a 200-day moving average of C$29.19.

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 issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.80 dividend on an annualized basis and a yield of 5.84%. Paramount Resources’s dividend payout ratio (DPR) is presently 76.27%.

Analyst Ratings Changes

Several equities analysts have recently commented on POU shares. Scotiabank upped their price target on Paramount Resources from C$43.00 to C$44.00 in a research note 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. CIBC increased their target price on shares of Paramount Resources from C$38.00 to C$39.50 in a research note on Friday, November 15th. Cormark raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 15th. Finally, Royal Bank of Canada increased their price objective on shares of Paramount Resources from C$34.00 to C$37.00 in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$37.60.

Paramount Resources Company Profile

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.