Insider Selling: Paramount Resources (TSE:POU) Director Sells 8,850 Shares of Stock

Paramount Resources Ltd. (TSE:POU) Director Dirk Jungé sold 8,850 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately C$1,793,627.55. This represents a 13.26% decrease in their position.

Paramount Resources Stock Performance

TSE POU traded up C$0.58 on Wednesday, reaching C$31.62. The stock had a trading volume of 98,513 shares, compared to its average volume of 296,338. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 2.57. Paramount Resources Ltd. has a 12-month low of C$19.37 and a 12-month high of C$33.44. The business’s 50-day moving average price is C$29.62 and its 200 day moving average price is C$26.83. The stock has a market cap of C$4.60 billion, a P/E ratio of 79.05, a price-to-earnings-growth ratio of 0.14 and a beta of -0.28.

Paramount Resources (TSE:POU) last issued 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 during the quarter. As a group, equities analysts expect that Paramount Resources Ltd. will post 1.4075758 earnings per share for the current year.

Paramount Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th will be paid a $0.05 dividend. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, June 15th. Paramount Resources’s payout ratio is currently 150.00%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on POU shares. Raymond James Financial boosted their price objective on shares of Paramount Resources from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Canadian Imperial Bank of Commerce boosted their price objective on shares of Paramount Resources from C$25.50 to C$30.50 in a research note on Wednesday, March 4th. National Bank Financial boosted their price objective on shares of Paramount Resources from C$36.00 to C$38.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 13th. BMO Capital Markets boosted their price objective on shares of Paramount Resources from C$24.00 to C$32.00 and gave the company an “outperform” rating in a research note on Wednesday, March 4th. Finally, Roth Mkm set a C$33.00 price objective on shares of Paramount Resources and gave the company a “buy” rating in a research note on Wednesday, March 4th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock 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”.