Cibc World Mkts upgraded shares of Paramount Resources (TSE:POU – Free Report) from a hold rating to a strong-buy rating in a research note released on Thursday morning, Zacks.com reports.
A number of other analysts have also commented on POU. BMO Capital Markets raised their price target on Paramount Resources from C$38.50 to C$40.00 in a research note on Wednesday, July 3rd. CIBC lifted their target price on shares of Paramount Resources from C$37.00 to C$38.00 in a research note on Monday, July 15th. Cormark raised shares of Paramount Resources to a “hold” rating in a research note on Monday, September 23rd. Scotiabank lifted their price objective on Paramount Resources from C$42.00 to C$43.00 in a research report on Friday, July 12th. Finally, Jefferies Financial Group reduced their target price 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. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$37.25.
Check Out Our Latest Analysis on POU
Paramount Resources Stock Performance
Paramount Resources (TSE:POU – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported C$0.57 EPS for the quarter. The business had revenue of C$443.60 million during the quarter, compared to analyst estimates of C$468.00 million. Paramount Resources had a return on equity of 10.03% and a net margin of 19.66%. Sell-side analysts expect that Paramount Resources will post 1.4075758 EPS for the current year.
Paramount Resources Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.75%. Paramount Resources’s dividend payout ratio is currently 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.
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