Paramount Resources (TSE:POU) Stock Rating Upgraded by Cormark

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

POU has been the topic of a number of other research reports. Cibc World Mkts raised Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. CIBC upped their price target on shares of Paramount Resources from C$38.00 to C$39.50 in a report on Friday. Jefferies Financial Group dropped their price objective on 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. Royal Bank of Canada lifted their target price on shares of Paramount Resources from C$34.00 to C$37.00 in a research note on Friday. Finally, Scotiabank lifted their price target on Paramount Resources from C$43.00 to C$44.00 in a research report on Friday. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$37.60.

Paramount Resources Stock Performance

POU stock opened at C$31.01 on Friday. The company has a market capitalization of C$4.55 billion, a price-to-earnings ratio of 13.14, a P/E/G ratio of 0.14 and a beta of 3.04. Paramount Resources has a 12 month low of C$24.51 and a 12 month high of C$33.06. The company has a 50 day moving average price of C$26.82. 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 Dividend Announcement

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 paid a $0.15 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.80%. Paramount Resources’s dividend payout ratio is presently 76.27%.

Insider Buying and Selling at Paramount Resources

In related news, Senior Officer Garth W.J. Stotts sold 12,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of C$31.02, for a total value of C$372,183.60. Company insiders own 45.36% of the company’s stock.

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.