Paramount Resources (TSE:POU) Upgraded at Cormark

Cormark upgraded shares of Paramount Resources (TSE:POU) from a hold rating to a moderate buy rating in a research note released on Friday morning,Zacks.com reports.

A number of other equities analysts also recently commented on the company. Scotiabank upped their target price on Paramount Resources from C$43.00 to C$44.00 in a report on Friday. Jefferies Financial Group dropped their target price on shares of Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating for the company in a research report on Monday, September 16th. CIBC increased their price target on shares of Paramount Resources from C$38.00 to C$39.50 in a research note on Friday. Royal Bank of Canada lifted their price objective on Paramount Resources from C$34.00 to C$37.00 in a research report on Friday. Finally, Cibc World Mkts raised 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$37.60.

Paramount Resources Stock Down 1.4 %

TSE POU opened at C$31.01 on Friday. The business’s 50-day moving average is C$26.82 and its 200 day moving average is C$29.22. The stock has a market capitalization of C$4.55 billion, a PE ratio of 13.14, a PEG ratio of 0.14 and a beta of 3.04. 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 1 year low of C$24.51 and a 1 year high of C$33.06.

Paramount Resources Announces Dividend

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

Paramount Resources Company Profile

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.