Cormark upgraded shares of Paramount Resources (TSE:POU – Free Report) to a hold rating in a research note released on Monday, Zacks.com reports.
Several other equities research analysts have also recently issued reports on POU. CIBC boosted their price target on Paramount Resources from C$37.00 to C$38.00 in a research note on Monday, July 15th. Jefferies Financial Group dropped 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. BMO Capital Markets upped their price objective on shares of Paramount Resources from C$38.50 to C$40.00 in a research report on Wednesday, July 3rd. Finally, Scotiabank raised their target price on shares of Paramount Resources from C$42.00 to C$43.00 in a report on Friday, July 12th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of C$37.25.
View Our Latest Stock Report on Paramount Resources
Paramount Resources Price Performance
Paramount Resources (TSE:POU – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported C$0.57 EPS for the quarter. Paramount Resources had a return on equity of 10.03% and a net margin of 19.66%. The firm 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 declared a monthly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.15 per share. This represents a $1.80 annualized dividend and a dividend yield of 6.96%. The ex-dividend date of this dividend is Monday, September 16th. Paramount Resources’s payout ratio is currently 77.92%.
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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