Paramount Resources (TSE:POU) Price Target Raised to C$44.00

Paramount Resources (TSE:POU) had its price target increased by Scotiabank from C$43.00 to C$44.00 in a report published on Friday,BayStreet.CA reports.

Several other research firms have also recently issued reports on POU. Jefferies Financial Group decreased their price target 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. 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. Finally, Cormark upgraded shares of Paramount Resources to a “hold” rating in a research report on Monday, September 23rd. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$37.60.

Paramount Resources Price Performance

Shares of POU stock opened at C$31.01 on Friday. Paramount Resources has a 12-month low of C$24.51 and a 12-month 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. The company has a market cap 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. The business has a 50 day simple moving average of C$26.82.

Paramount Resources Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 29th will be paid a dividend of $0.15 per share. This represents a $1.80 annualized dividend and a yield of 5.80%. The ex-dividend date of this dividend is Friday, November 15th. Paramount Resources’s dividend payout ratio is presently 76.27%.

Insider Buying and Selling

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

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.