Paramount Resources (TSE:POU) Price Target Raised to C$37.00

Paramount Resources (TSE:POU) had its price target increased by Royal Bank of Canada from C$34.00 to C$37.00 in a research note issued to investors on Friday,BayStreet.CA reports.

Several other brokerages have also recently commented on POU. Cormark upgraded Paramount Resources to a “hold” rating in a report on Monday, September 23rd. Jefferies Financial Group lowered 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. 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, Scotiabank upped their price objective on Paramount Resources from C$43.00 to C$44.00 in a report on Friday. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$37.60.

Paramount Resources Stock Performance

TSE POU opened at C$31.01 on Friday. Paramount Resources has a 1-year low of C$24.51 and a 1-year high of C$33.06. The business’s 50 day moving average price is C$26.82. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of C$4.55 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04.

Paramount Resources Dividend Announcement

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

Insider Buying and Selling at Paramount Resources

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

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.