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

Paramount Resources Ltd. (TSE:POU) insider Brenda Gail Riddell acquired 100,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were 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 %

TSE:POU opened at C$30.82 on Wednesday. The company’s 50 day moving average is C$27.52 and its two-hundred day moving average is C$29.20. The company has a market cap of C$4.52 billion, a PE ratio of 13.06, a P/E/G ratio of 0.14 and a beta of 3.04. 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 current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83.

Paramount Resources Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 29th will be given a $0.15 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.84%. The ex-dividend date of this dividend is Friday, November 15th. Paramount Resources’s payout ratio is 76.27%.

Analysts Set New Price Targets

POU has been the subject of a number of analyst reports. Royal Bank of Canada upped their target price on Paramount Resources from C$34.00 to C$37.00 in a report on Friday, November 15th. Jefferies Financial Group reduced their target price on shares of Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating for the company in a report on Monday, September 16th. CIBC increased their price target on shares of Paramount Resources from C$38.00 to C$39.50 in a research 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. Finally, Scotiabank increased their target price on shares of Paramount Resources from C$43.00 to C$44.00 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 stock. According to data from MarketBeat, the stock presently 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.