Paramount Resources (TSE:POU) Upgraded to Hold by Cormark

Cormark upgraded shares of Paramount Resources (TSE:POU) to a hold rating in a research report report published on Monday, Zacks.com reports.

A number of other research analysts have also commented on POU. Jefferies Financial Group cut their price objective 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. Scotiabank upped their price target on Paramount Resources from C$42.00 to C$43.00 in a report on Friday, July 12th. BMO Capital Markets lifted their price objective on Paramount Resources from C$38.50 to C$40.00 in a report on Wednesday, July 3rd. Finally, CIBC upped their target price on shares of Paramount Resources from C$37.00 to C$38.00 in a research note on Monday, July 15th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Paramount Resources currently has an average rating of Moderate Buy and an average price target of C$37.25.

Paramount Resources Stock Performance

Shares of TSE POU opened at C$25.78 on Monday. Paramount Resources has a 12 month low of C$24.51 and a 12 month high of C$33.80. The company has a market cap of C$3.78 billion, a P/E ratio of 11.16, a P/E/G ratio of 0.14 and a beta of 3.06. The business’s 50 day moving average is C$27.73 and its two-hundred day moving average is C$29.41. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 0.83.

Paramount Resources (TSE:POU) last announced its earnings results on Thursday, August 1st. The company reported C$0.57 earnings per share (EPS) for the quarter. Paramount Resources had a net margin of 19.66% and a return on equity of 10.03%. The business had revenue of C$443.60 million for the quarter, compared to analyst estimates of C$468.00 million.

Paramount Resources Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.80 annualized dividend and a yield of 6.98%. Paramount Resources’s payout ratio is 77.92%.

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.