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

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

Several other brokerages have also recently weighed in on POU. Scotiabank increased their target price on Paramount Resources from C$43.00 to C$44.00 in a report on Friday. Cormark raised Paramount Resources to a “hold” rating in a research note on Monday, September 23rd. Jefferies Financial Group decreased their target price 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. Royal Bank of Canada increased their price target on shares of Paramount Resources from C$34.00 to C$37.00 in a research report on Friday. Finally, Cibc World Mkts upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Paramount Resources has an average rating of “Moderate Buy” and a consensus target price of C$37.60.

Paramount Resources Price Performance

Paramount Resources stock opened at C$31.01 on Friday. The stock has a fifty day simple moving average of C$26.82. 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 twelve month low of C$24.51 and a twelve month high of C$33.06. The company has a market capitalization of C$4.55 billion, a P/E ratio of 13.14, a PEG ratio of 0.14 and a beta of 3.04.

Paramount Resources Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Shareholders 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 5.80%. Paramount Resources’s dividend payout ratio (DPR) is presently 76.27%.

Insiders Place Their Bets

In other Paramount Resources news, Senior Officer Garth W.J. Stotts sold 12,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of C$31.02, for a total transaction of C$372,183.60. Company insiders own 45.36% of the company’s stock.

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.