Brokerages Set Paramount Resources Ltd. (TSE:POU) Target Price at C$37.25

Paramount Resources Ltd. (TSE:POU) has earned a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is C$37.25.

A number of research analysts recently commented on POU shares. Cormark raised shares of Paramount Resources to a “hold” rating in a research report on Monday, September 23rd. Jefferies Financial Group dropped their price target on shares of Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Finally, Cibc World Mkts raised Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th.

Paramount Resources Trading Up 15.3 %

Shares of TSE POU opened at C$31.46 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83. Paramount Resources has a one year low of C$24.51 and a one year high of C$33.06. The business has a 50-day moving average price of C$26.68 and a two-hundred day moving average price of C$29.22. The firm has a market capitalization of C$4.62 billion, a PE ratio of 13.33, a PEG ratio of 0.14 and a beta of 3.04.

Paramount Resources Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 29th will be issued a $0.15 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.80 annualized dividend and a yield of 5.72%. Paramount Resources’s dividend payout ratio (DPR) is currently 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.