Paramount Resources Ltd. (TSE:POU) to Issue Monthly Dividend of $0.15

Paramount Resources Ltd. (TSE:POU) announced a monthly dividend on Tuesday, October 1st, TickerTech reports. Investors of record on Tuesday, October 15th will be given a dividend of 0.15 per share on Thursday, October 31st. This represents a $1.80 annualized dividend and a yield of 6.46%. The ex-dividend date of this dividend is Tuesday, October 15th.

Paramount Resources Price Performance

POU stock opened at C$27.87 on Friday. 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 firm has a 50 day moving average price of C$27.14 and a 200-day moving average price of C$29.46. Paramount Resources has a 52-week low of C$24.51 and a 52-week high of C$33.80. The firm has a market capitalization of C$4.09 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 0.14 and a beta of 3.04.

Paramount Resources (TSE:POU) last posted its quarterly earnings data on Thursday, August 1st. The company reported C$0.57 earnings per share for the quarter. Paramount Resources had a return on equity of 10.03% and a net margin of 19.66%. The company had revenue of C$443.60 million during the quarter, compared to analyst estimates of C$468.00 million. Equities research analysts forecast that Paramount Resources will post 1.4075758 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on POU. CIBC increased their price objective on shares of Paramount Resources from C$37.00 to C$38.00 in a research report on Monday, July 15th. Cormark upgraded shares of Paramount Resources to a “hold” rating in a report on Monday, September 23rd. BMO Capital Markets boosted their price objective on shares of Paramount Resources from C$38.50 to C$40.00 in a report on Wednesday, July 3rd. Jefferies Financial Group cut their target price on Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Finally, Scotiabank boosted their price target on Paramount Resources from C$42.00 to C$43.00 in a research note on Friday, July 12th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$37.25.

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.