David Blake Reid Sells 25,000 Shares of Paramount Resources (TSE:POU) Stock

by · The Cerbat Gem

Paramount Resources Ltd. (TSE:POU – Get Free Report) insider David Blake Reid sold 25,000 shares of Paramount Resources stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of C$30.90, for a total transaction of C$772,500.00. Following the sale, the insider owned 172,313 shares of the company’s stock, valued at C$5,324,471.70. The trade was a 12.67% decrease in their position.

Paramount Resources Trading Up 2.3%

POU stock traded up C$0.72 during mid-day trading on Friday, reaching C$32.06. The company had a trading volume of 279,033 shares, compared to its average volume of 302,991. The company has a market capitalization of C$4.66 billion, a PE ratio of 80.15, a price-to-earnings-growth ratio of 0.14 and a beta of -0.03. The firm has a 50 day moving average of C$29.12 and a 200 day moving average of C$26.13. Paramount Resources Ltd. has a 12 month low of C$18.61 and a 12 month high of C$32.06. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.57 and a quick ratio of 0.68.

Paramount Resources (TSE:POU – Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported C$0.36 earnings per share (EPS) for the quarter. The firm had revenue of C$276.20 million during the quarter. Paramount Resources had a return on equity of 1.96% and a net margin of 5.90%. On average, equities analysts predict that Paramount Resources Ltd. will post 1.4075758 earnings per share for the current fiscal year.

Paramount Resources Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 29th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%. Paramount Resources’s dividend payout ratio is presently 150.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on POU shares. BMO Capital Markets upped their price objective on shares of Paramount Resources from C$24.00 to C$32.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 4th. Canadian Imperial Bank of Commerce raised their target price on shares of Paramount Resources from C$25.50 to C$30.50 in a research report on Wednesday, March 4th. National Bank Financial boosted their price target on shares of Paramount Resources from C$36.00 to C$38.00 and gave the company a “sector perform” rating in a report on Wednesday. Jefferies Financial Group dropped their price objective on shares of Paramount Resources from C$29.00 to C$28.00 in a research note on Tuesday, January 20th. Finally, Roth Mkm set a C$33.00 price objective on shares of Paramount Resources and gave the company a “buy” rating in a report on Wednesday, March 4th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$32.94.

Check Out Our Latest Report on Paramount Resources

About Paramount Resources

(Get Free Report)

Paramount is an independent, publicly traded Canadian energy company that explores for and develops both conventional and unconventional petroleum and natural gas, including longer-term strategic exploration and pre-development plays. The Company’s principal properties are located in Alberta and British Columbia. Paramount’s class A common shares are listed on the Toronto Stock Exchange under the symbol “POU”.

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