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

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

Paramount Resources Stock Up 1.0 %

TSE:POU opened at C$31.49 on Friday. The company’s 50-day simple moving average is C$27.29 and its 200-day simple moving average is C$29.22. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.75. Paramount Resources Ltd. has a fifty-two week low of C$24.51 and a fifty-two week high of C$33.06. The stock has a market capitalization of C$4.62 billion, a P/E ratio of 13.34, a P/E/G ratio of 0.14 and a beta of 3.04.

Paramount Resources Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 29th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.80 annualized dividend and a yield of 5.72%. Paramount Resources’s dividend payout ratio (DPR) is 76.27%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Cibc World Mkts raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Cormark upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. Jefferies Financial Group cut their price target on Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. CIBC upped their price objective on shares of Paramount Resources from C$38.00 to C$39.50 in a research note on Friday, November 15th. Finally, Royal Bank of Canada increased their target price on shares of Paramount Resources from C$34.00 to C$37.00 in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Paramount Resources has an average rating of “Moderate Buy” and a consensus price target 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.