CIBC Increases Paramount Resources (TSE:POU) Price Target to C$39.50

Paramount Resources (TSE:POU) had its price target increased by CIBC from C$38.00 to C$39.50 in a report released on Friday,BayStreet.CA reports.

Several other analysts have also weighed in on the stock. 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. Cormark raised shares of Paramount Resources to a “hold” rating in a research note on Monday, September 23rd. Scotiabank upped their price objective on shares of Paramount Resources from C$43.00 to C$44.00 in a report on Friday. Jefferies Financial Group reduced their target price on Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Finally, Royal Bank of Canada upped their price target on Paramount Resources from C$34.00 to C$37.00 in a research note on Friday. Two investment 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’s stock. According to MarketBeat.com, Paramount Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of C$37.60.

Paramount Resources Trading Down 1.4 %

Shares of POU stock opened at C$31.01 on Friday. Paramount Resources has a fifty-two week low of C$24.51 and a fifty-two 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. The stock has a 50 day simple moving average of C$26.82 and a two-hundred day simple moving average of C$29.22. The company has a market cap of C$4.55 billion, a P/E ratio of 13.14, a PEG ratio of 0.14 and a beta of 3.04.

Paramount Resources Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 29th will be issued 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%.

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.