Paramount Resources (TSE:POU) Price Target Raised to C$39.50

Paramount Resources (TSE:POU) had its price target raised by CIBC from C$38.00 to C$39.50 in a report issued on Friday,BayStreet.CA reports.

A number of other research firms have also recently issued reports on POU. Royal Bank of Canada upped their price objective on shares of Paramount Resources from C$34.00 to C$37.00 in a research report on Friday. Cormark upgraded Paramount Resources to a “hold” rating in a research note on Monday, September 23rd. Cibc World Mkts raised Paramount Resources from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Scotiabank increased their target price on Paramount Resources from C$43.00 to C$44.00 in a research report on Friday. Finally, Jefferies Financial Group reduced their price target on Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$37.60.

Paramount Resources Stock Down 1.4 %

Shares of POU opened at C$31.01 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.75 and a quick ratio of 0.68. Paramount Resources has a one year low of C$24.51 and a one year high of C$33.06. The company has a market cap of C$4.55 billion, a P/E ratio of 13.14, a P/E/G ratio of 0.14 and a beta of 3.04. The firm has a 50 day simple moving average of C$26.82 and a two-hundred day simple moving average of C$29.22.

Paramount Resources Dividend Announcement

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. This represents a $1.80 annualized dividend and a yield of 5.80%. The ex-dividend date is Friday, November 15th. Paramount Resources’s payout ratio is presently 76.27%.

Paramount Resources Company Profile

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.