Paramount Resources (TSE:POU) Upgraded by Cormark to Moderate Buy Rating

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

Other equities analysts also recently issued reports about the company. Royal Bank of Canada raised their price target on Paramount Resources from C$34.00 to C$37.00 in a research note on Friday. CIBC raised their target price on Paramount Resources from C$38.00 to C$39.50 in a research report on Friday. Jefferies Financial Group reduced their price target 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 upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Scotiabank boosted their target price on shares of Paramount Resources from C$43.00 to C$44.00 in a research report on Friday. Two 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$37.60.

Paramount Resources Trading Down 1.4 %

Shares of POU stock opened at C$31.01 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83. Paramount Resources has a 12-month low of C$24.51 and a 12-month high of C$33.06. The stock has a market capitalization of C$4.55 billion, a P/E ratio of 13.14, a P/E/G ratio of 0.14 and a beta of 3.04. The firm’s 50 day moving average is C$26.82 and its 200 day moving average is C$29.22.

Paramount Resources Dividend Announcement

The company 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 dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.80 annualized dividend and a dividend yield of 5.80%. Paramount Resources’s payout ratio is 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.