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

Paramount Resources (TSE:POU) had its target price raised by Scotiabank from C$43.00 to C$44.00 in a research report sent to investors on Friday,BayStreet.CA reports.

A number of other equities analysts have also weighed in on the company. Cibc World Mkts upgraded Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Jefferies Financial Group decreased 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 report on Monday, September 16th. Finally, Cormark upgraded shares of Paramount Resources to a “hold” rating in a report on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$37.60.

Paramount Resources Price Performance

Shares of TSE:POU opened at C$31.01 on Friday. 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 company has a market capitalization of C$4.55 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. The stock has a fifty day moving average of C$26.82 and a 200-day moving average of C$29.22. Paramount Resources has a one year low of C$24.51 and a one year high of C$33.06.

Paramount Resources Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 29th will be given a dividend of $0.15 per share. This represents a $1.80 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date is Friday, November 15th. Paramount Resources’s payout ratio 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.