Paramount Resources (TSE:POU) Price Target Raised to C$37.00

Paramount Resources (TSE:POU) had its target price upped by Royal Bank of Canada from C$34.00 to C$37.00 in a report released on Friday morning,BayStreet.CA reports.

Other analysts have also recently issued reports about the stock. Jefferies Financial Group decreased their price objective 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. Cibc World Mkts upgraded Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Cormark upgraded Paramount Resources to a “hold” rating in a research note on Monday, September 23rd. Finally, Scotiabank upped their price target on shares of Paramount Resources from C$43.00 to C$44.00 in a research report on Friday. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$37.60.

Paramount Resources Stock Down 1.4 %

Shares of TSE:POU opened at C$31.01 on Friday. The company’s fifty day moving average is C$26.82 and its 200-day moving average is C$29.22. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.75. Paramount Resources has a 52 week low of C$24.51 and a 52 week high of C$33.06. The company has a market capitalization of C$4.55 billion, a PE ratio of 13.14, a P/E/G ratio of 0.14 and a beta of 3.04.

Paramount Resources Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 29th will be given a dividend of $0.15 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.80%. The ex-dividend date is Friday, November 15th. Paramount Resources’s dividend 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.