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

Paramount Resources (TSE:POU) had its target price lifted by Royal Bank of Canada from C$34.00 to C$37.00 in a research note published on Friday,BayStreet.CA reports.

POU has been the subject of a number of other research reports. Jefferies Financial Group reduced their target price on Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Scotiabank raised their price objective on Paramount Resources from C$43.00 to C$44.00 in a research note on Friday. Cormark upgraded Paramount Resources to a “hold” rating in a research report on Monday, September 23rd. Finally, Cibc World Mkts raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$37.60.

Paramount Resources Stock Performance

Paramount Resources stock traded down C$0.30 during mid-day trading on Friday, reaching C$31.01. 815,882 shares of the company traded hands, compared to its average volume of 299,518. The firm’s fifty day moving average is C$26.75 and its two-hundred day moving average is C$29.23. The company has a market capitalization of C$4.55 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. Paramount Resources has a fifty-two week low of C$24.51 and a fifty-two week high of C$33.06. 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 Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, November 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.80%. 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.