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

Paramount Resources (TSE:POU) had its price objective increased by Scotiabank from C$43.00 to C$44.00 in a research note issued to investors on Friday morning,BayStreet.CA reports.

A number of other research firms also recently issued reports on POU. Jefferies Financial Group cut 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 raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$37.60.

Paramount Resources Stock Performance

Shares of POU traded down C$0.30 during trading hours on Friday, hitting C$31.01. The stock had a trading volume of 815,882 shares, compared to its average volume of 299,518. The firm 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 12 month low of C$24.51 and a 12 month high of C$33.06. The stock has a fifty day moving average price of C$26.75 and a 200 day moving average price of C$29.23.

Paramount Resources Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date of this dividend is Friday, November 15th. Paramount Resources’s dividend payout ratio (DPR) is 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.