Paramount Resources Ltd. (TSE:POU) to Issue $0.02 Monthly Dividend

Paramount Resources Ltd. (TSE:POU) announced a monthly dividend on Thursday, October 14th, TickerTech reports. Investors of record on Friday, October 29th will be given a dividend of 0.02 per share on Friday, October 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Thursday, October 14th.

Shares of TSE POU opened at C$20.03 on Wednesday. The business’s 50 day moving average price is C$15.74 and its two-hundred day moving average price is C$14.41. The company has a market cap of C$2.67 billion and a PE ratio of 20.27. The company has a quick ratio of 0.30, a current ratio of 0.46 and a debt-to-equity ratio of 31.31. Paramount Resources has a twelve month low of C$2.14 and a twelve month high of C$20.68.

Paramount Resources (TSE:POU) last announced its quarterly earnings results on Wednesday, August 4th. The company reported C$0.01 earnings per share for the quarter, topping analysts’ consensus estimates of C($0.01) by C$0.02. The business had revenue of C$274.75 million for the quarter. As a group, research analysts anticipate that Paramount Resources will post 1.7 EPS for the current fiscal year.

POU has been the subject of a number of research reports. National Bank Financial upgraded Paramount Resources to an “outperform” rating and set a C$28.00 price target for the company in a research note on Tuesday, September 28th. Royal Bank of Canada increased their price target on Paramount Resources to C$16.00 and gave the stock a “sector perform” rating in a report on Friday, June 18th. CIBC increased their price target on Paramount Resources from C$17.00 to C$20.00 and gave the stock a “na” rating in a report on Wednesday, July 14th. ATB Capital increased their price objective on shares of Paramount Resources from C$16.00 to C$16.50 and gave the stock a “sector perform” rating in a research report on Friday, June 18th. Finally, Cormark raised their price target on shares of Paramount Resources from C$16.50 to C$20.00 and gave the company a “na” rating in a research report on Monday, June 21st. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Paramount Resources presently has an average rating of “Buy” and a consensus price target of C$19.08.

In other Paramount Resources news, Senior Officer David Blake Reid sold 13,000 shares of the business’s stock in a transaction on Monday, September 27th. The shares were sold at an average price of C$18.00, for a total value of C$234,000.00. Following the completion of the sale, the insider now directly owns 11,547 shares of the company’s stock, valued at C$207,846. Insiders have bought a total of 4,700 shares of company stock valued at $63,475 over the last ninety days.

Paramount Resources Company Profile

Paramount Resources Ltd., an independent energy company, explores for, develops, produces, and markets natural gas, crude oil, and natural gas liquids in Canada. The company's principal properties are the Montney and Duvernay developments located in Alberta and British Columbia. It also invests in public and private corporations.

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