Paramount Resources (TSE:POU) Price Target Raised to C$44.00

Paramount Resources (TSE:POU) had its price target boosted by Scotiabank from C$43.00 to C$44.00 in a report released on Friday,BayStreet.CA reports.

Other equities analysts have also recently issued reports about the company. Cormark upgraded Paramount Resources to a “hold” rating in a research note on Monday, September 23rd. Cibc World Mkts upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Jefferies Financial Group dropped their target price on shares of Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$37.60.

Paramount Resources Stock Down 1.4 %

Shares of TSE POU opened at C$31.01 on Friday. The firm has a market cap of C$4.55 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 0.14 and a beta of 3.04. Paramount Resources has a 1 year low of C$24.51 and a 1 year high of C$33.06. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.75. The stock’s 50-day simple moving average is C$26.82 and its 200-day simple moving average is C$29.22.

Paramount Resources Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.15 per share. This represents a $1.80 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date is Friday, November 15th. Paramount Resources’s payout ratio is 76.27%.

About Paramount Resources

Paramount Resources Ltd. explores for and develops conventional and unconventional petroleum and natural gas reserves and resources in Canada. The company holds interests in the Karr and Wapiti Montney properties covering an area of 109,000 net acres located south of the city of Grande Prairie, Alberta; Kaybob North Duvernay development and natural gas producing properties covering an area of 124,000 net acres located in west-central Alberta; and Willesden Green Duvernay development in central Alberta and shale gas producing properties in the Horn River Basin in northeast British Columbia covering an area of 249,000 net acres.