Analysts Set Paramount Resources Ltd. (TSE:POU) Target Price at C$37.60

Shares of Paramount Resources Ltd. (TSE:POU) have been given a consensus rating of “Moderate Buy” by the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$37.60.

POU has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered their price target on Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Cormark upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 15th. Royal Bank of Canada increased their target price on Paramount Resources from C$34.00 to C$37.00 in a research note on Friday, November 15th. CIBC increased their target price on Paramount Resources from C$38.00 to C$39.50 in a research note on Friday, November 15th. Finally, Cibc World Mkts upgraded Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th.

Insiders Place Their Bets

In other Paramount Resources news, Senior Officer David Blake Reid sold 68,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of C$30.90, for a total value of C$2,101,200.00. Also, Director Kimberley Elizabeth Lynch Proctor bought 3,000 shares of Paramount Resources stock in a transaction on Friday, November 22nd. The stock was acquired at an average cost of C$31.36 per share, for a total transaction of C$94,080.00. Corporate insiders own 45.36% of the company’s stock.

Paramount Resources Price Performance

Shares of TSE POU opened at C$30.58 on Friday. The business’s 50 day moving average price is C$28.36 and its two-hundred day moving average price is C$29.10. The company has a market cap of C$4.49 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 0.83. Paramount Resources has a twelve month low of C$24.51 and a twelve month high of C$33.06.

Paramount Resources Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 29th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.80 dividend on an annualized basis and a yield of 5.89%. Paramount Resources’s dividend payout ratio (DPR) is presently 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.