Royal Bank of Canada Cuts Paramount Resources (TSE:POU) Price Target to C$19.00

Paramount Resources (TSE:POU) had its price target reduced by Royal Bank of Canada from C$34.00 to C$19.00 in a report released on Tuesday,BayStreet.CA reports.

Several other research analysts also recently weighed in on POU. Cormark upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. CIBC upped their price target on Paramount Resources from C$38.00 to C$39.50 in a research report on Friday, November 15th. Scotiabank lifted their price objective on Paramount Resources from C$44.00 to C$46.00 in a research report on Friday, January 17th. Finally, Jefferies Financial Group reduced their target price on shares of Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$31.67.

Paramount Resources Trading Down 1.1 %

Shares of TSE:POU opened at C$18.09 on Tuesday. The stock’s 50-day simple moving average is C$29.94 and its two-hundred day simple moving average is C$28.63. The stock has a market capitalization of C$2.69 billion, a price-to-earnings ratio of 7.41, a PEG ratio of 0.14 and a beta of 3.04. Paramount Resources has a 52-week low of C$16.60 and a 52-week high of C$33.06. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.68 and a current ratio of 0.62.

Paramount Resources Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.05 per share. This represents a $0.60 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Thursday, February 20th. Paramount Resources’s dividend payout ratio is presently 73.70%.

Insider Activity

In other news, Senior Officer Michael S. Han sold 8,320 shares of Paramount Resources stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of C$30.86, for a total value of C$256,788.48. Also, insider Brenda Gail Riddell purchased 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average price of C$31.30 per share, for a total transaction of C$3,129,630.00. Corporate insiders own 45.36% of the company’s stock.

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.