Paramount Resources Ltd. (TSE:POU) Senior Executive Bernard K. Lee Buys 15,000 Shares

Paramount Resources Ltd. (TSE:POU – Get Rating) Senior Officer Bernard K. Lee purchased 15,000 shares of the company in a trade on Wednesday, June 22. The stock was purchased at an average cost of CA$31.00 per share, for a total transaction of CA$465,000.00. Following the completion of the purchase, the insider now directly owns 259,604 shares of the company, valued at C$8,047,724.

Bernard K. Lee has also recently performed the following job(s):

  • On Wednesday March 30, Bernard K. Lee sold 10,000 shares of Paramount Resources. The stock was sold at an average price of CA$32.00, for a total value of CA$320,000.00.

Shares of TSE POU traded at C$0.98 at midday on Friday, hitting C$29.07. 296,805 shares of the stock have traded, compared to its average volume of 506,592. The company has a leverage ratio of 11.41, a quick ratio of 0.52 and a current ratio of 0.55. Paramount Resources Ltd. has a 52-week low of C$11.97 and a 52-week high of C$40.73. The company has a market cap of C$4.09 billion and a price-earnings ratio of 12.49. The stock has a fifty-day moving average price of C$33.81 and a 200-day moving average price of C$29.13.

Paramount Resources (TSE:POU – Get Rating) last released its quarterly results on Wednesday, May 4. The company reported earnings per share of C$0.93 for the quarter, beating the consensus estimate of C$0.68 by C$0.25. The company had revenue of C$499.60 million for the quarter. As a group, sell-side analysts expect Paramount Resources Ltd. will post EPS of 3.6900002 for the current fiscal year.

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Lithium is a valuable commodity when it comes to our transition to renewable energy. Developing more domestic sources of the metal has been called a national security issue, since China monopolizes 80% of the world’s lithium. The US Geological Survey calls an area of ​​Nevada the world’s best-known lithium deposit.

The company also recently declared a monthly dividend, which will be paid on Thursday, June 30. Investors of record on Thursday, June 30 will receive a dividend of $0.10 per share. The ex-date of this dividend is Tuesday, June 14. This represents an annualized dividend of $1.20 and a dividend yield of 4.13%. Paramount Resources’ dividend payout ratio is currently 20.80%.

A number of stock analysts have commented on the company. Raymond James raised his price target on Paramount Resources from C$37.00 to C$40.00 and gave the stock an “outperform” rating in a Thursday, May 5 research note. Royal Bank of Canada raised its target price on Paramount Resources from CA$30.00 to CA$33.00 and gave the company an “industry performance” rating in a Thursday, March 3, research note. National Bankshares reduced its target price on Paramount Resources from CA$45.00 to CA$35.00 in a Thursday, April 14 research note. BMO Capital Markets raised its target price on Paramount Resources from C$40.00 to C$45.00 in a Thursday, May 5 research note. Finally, Scotiabank raised its target price on Paramount Resources from C$25.00 to C$31.00 in a Tuesday, March 8 research note. Four equity research analysts gave the stock a hold rating and three gave the company a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$38.55.

Paramount Resources Company Profile (Get an assessment)

Paramount Resources Ltd., an independent energy company, explores, 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 companies.

See also

Insider buying and selling by quarter for Paramount Resources (TSE:POU)

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