Brokerages Set Paramount Resources Ltd. (TSE:POU) PT at C$37.25

Shares of Paramount Resources Ltd. (TSE:POU) have been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$37.25.

POU has been the topic of several recent analyst reports. Cibc World Mkts raised Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Jefferies Financial Group lowered 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. Finally, Cormark upgraded shares of Paramount Resources to a “hold” rating in a research note on Monday, September 23rd.

Paramount Resources Trading Up 15.3 %

Paramount Resources stock opened at C$31.46 on Tuesday. Paramount Resources has a 52 week low of C$24.51 and a 52 week high of C$33.06. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.75. The firm has a market capitalization of C$4.62 billion, a PE ratio of 13.33, a PEG ratio of 0.14 and a beta of 3.04. The business’s 50-day simple moving average is C$26.68 and its 200-day simple moving average is C$29.22.

Paramount Resources Announces Dividend

The firm also recently declared 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. This represents a $1.80 annualized dividend and a yield of 5.72%. The ex-dividend date of this dividend is Friday, November 15th. Paramount Resources’s dividend payout ratio (DPR) is presently 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.