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

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

Paramount Resources Trading Down 0.7%

POU opened at C$31.66 on Wednesday. Paramount Resources Ltd. has a 52 week low of C$18.92 and a 52 week high of C$33.44. The business has a fifty day simple moving average of C$29.54 and a 200-day simple moving average of C$26.63. The firm has a market cap of C$4.60 billion, a P/E ratio of 79.15, a P/E/G ratio of 0.14 and a beta of -0.03. The company has a quick ratio of 0.68, a current ratio of 2.57 and a debt-to-equity ratio of 0.89.

Paramount Resources (TSE:POU) last released its quarterly earnings results on Tuesday, May 12th. The company reported C$0.36 EPS for the quarter. The business 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 expect that Paramount Resources Ltd. will post 1.4075758 earnings per share for the current year.

Paramount Resources Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Paramount Resources Company Profile

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”.