Royal Bank of Canada Increases Paramount Resources (TSE:POU) Price Target to C$37.00

Paramount Resources (TSE:POU) had its price objective lifted by Royal Bank of Canada from C$34.00 to C$37.00 in a report published on Friday,BayStreet.CA reports.

Several other research firms have also weighed in on POU. Cormark upgraded Paramount Resources to a “hold” rating in a report on Monday, September 23rd. Jefferies Financial Group decreased their price objective on 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 upgraded 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 target on shares of Paramount Resources from C$43.00 to C$44.00 in a report on Friday. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Paramount Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of C$37.60.

Paramount Resources Stock Down 1.4 %

Shares of TSE:POU opened at C$31.01 on Friday. The company has a 50 day moving average price of C$26.82 and a two-hundred day moving average price of C$29.22. The company has a market capitalization of C$4.55 billion, a PE ratio of 13.14, a PEG ratio of 0.14 and a beta of 3.04. Paramount Resources has a 52 week low of C$24.51 and a 52 week high of C$33.06. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.75.

Paramount Resources Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 29th will be given a $0.15 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date is Friday, November 15th. Paramount Resources’s dividend payout ratio is presently 76.27%.

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.