Insider Selling: Paramount Resources (TSE:POU) Director Sells C$274,084.50 in Stock

Paramount Resources Ltd. (TSE:POU) Director Dirk Jungé sold 8,850 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of C$30.97, for a total value of C$274,084.50. Following the completion of the sale, the director owned 57,915 shares in the company, valued at approximately C$1,793,627.55. The trade was a 13.26% decrease in their ownership of the stock.

Paramount Resources Stock Down 4.4%

Shares of TSE POU opened at C$30.07 on Friday. Paramount Resources Ltd. has a 12-month low of C$19.37 and a 12-month high of C$33.44. The company has a current ratio of 2.57, a quick ratio of 0.68 and a debt-to-equity ratio of 0.89. The stock has a market cap of C$4.37 billion, a P/E ratio of 75.18, a PEG ratio of 0.14 and a beta of -0.28. The business’s fifty day simple moving average is C$29.72 and its 200-day simple moving average is C$27.02.

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

Paramount Resources Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th will be issued a $0.05 dividend. This represents a c) dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, June 15th. Paramount Resources’s payout ratio is currently 150.00%.

Analysts Set New Price Targets

POU has been the topic of a number of analyst reports. Royal Bank Of Canada lifted their price objective on Paramount Resources from C$32.00 to C$35.00 and gave the company a “sector perform” rating in a report on Wednesday, May 13th. National Bank Financial upped their price target on Paramount Resources from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 13th. Raymond James Financial upped their price target on Paramount Resources from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Canadian Imperial Bank of Commerce upped their price target on Paramount Resources from C$25.50 to C$30.50 in a report on Wednesday, March 4th. Finally, ATB Cormark Capital Markets upped their price target on Paramount Resources from C$28.00 to C$33.00 and gave the stock an “outperform” rating in a report on Wednesday, March 4th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$32.94.

About Paramount Resources

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”.