Paramount Resources (TSE:POU) Insider Joerg Wittenberg Sells 3,900 Shares

Paramount Resources Ltd. (TSE:POU) insider Joerg Wittenberg sold 3,900 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of C$33.28, for a total transaction of C$129,792.00. Following the completion of the transaction, the insider directly owned 54,321 shares in the company, valued at approximately C$1,807,802.88. This represents a 6.70% decrease in their ownership of the stock.

Paramount Resources Stock Performance

Shares of TSE:POU traded down C$1.20 on Monday, reaching C$31.87. 189,212 shares of the company’s stock were exchanged, compared to its average volume of 302,337. The company has a fifty day moving average of C$29.50 and a 200-day moving average of C$26.57. Paramount Resources Ltd. has a twelve month low of C$18.92 and a twelve month high of C$33.44. The company has a market capitalization of C$4.63 billion, a price-to-earnings ratio of 79.68, a PEG ratio of 0.14 and a beta of -0.03. The company has a current ratio of 2.57, a quick ratio of 0.68 and a debt-to-equity ratio of 0.89.

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

Paramount Resources Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on POU. Royal Bank Of Canada increased their target price on shares of Paramount Resources from C$32.00 to C$35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 13th. Canadian Imperial Bank of Commerce increased their target price on shares of Paramount Resources from C$25.50 to C$30.50 in a research report on Wednesday, March 4th. Roth Mkm set a C$33.00 price target on shares of Paramount Resources and gave the stock a “buy” rating in a report on Wednesday, March 4th. National Bank Financial upped their price target on shares of 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. Finally, Raymond James Financial upped their price target on shares of Paramount Resources from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Paramount Resources has a consensus rating of “Moderate Buy” and a consensus 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”.