Insider Buying: Paramount Resources Ltd. (TSE:POU) Insider Acquires C$3,129,630.00 in Stock

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

Paramount Resources Stock Down 0.1 %

Paramount Resources stock opened at C$31.02 on Friday. The firm has a market capitalization of C$4.55 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 0.14 and a beta of 3.04. The company’s 50 day simple moving average is C$27.63 and its 200 day simple moving average is C$29.19. 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 fifty-two week low of C$24.51 and a fifty-two 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. Stockholders of record on Friday, November 29th will be issued a $0.15 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.80%. The ex-dividend date of this dividend is Friday, November 15th. Paramount Resources’s dividend payout ratio (DPR) is 76.27%.

Analyst Ratings Changes

Several research firms have issued reports on POU. Jefferies Financial Group reduced their price objective on Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Cormark upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. Scotiabank lifted their price objective on Paramount Resources from C$43.00 to C$44.00 in a research report on Friday, November 15th. Royal Bank of Canada upped their target price on shares of Paramount Resources from C$34.00 to C$37.00 in a research report on Friday, November 15th. Finally, CIBC lifted their price target on shares of Paramount Resources from C$38.00 to C$39.50 in a research 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 given a strong buy rating to the company’s stock. According to MarketBeat, Paramount Resources has a consensus rating of “Moderate Buy” and an average 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.