Paramount Resources (TSE:POU) Upgraded to “Moderate Buy” at Cormark

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

POU has been the topic of a number of other reports. Jefferies Financial Group dropped their price objective 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. Cibc World Mkts upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. CIBC raised their target price on Paramount Resources from C$38.00 to C$39.50 in a research note on Friday. Scotiabank upped their price target on Paramount Resources from C$43.00 to C$44.00 in a research note on Friday. Finally, Royal Bank of Canada raised their price objective on Paramount Resources from C$34.00 to C$37.00 in a research note on Friday. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$37.60.

Paramount Resources Trading Down 1.0 %

Shares of Paramount Resources stock traded down C$0.30 during midday trading on Friday, reaching C$31.01. The company had a trading volume of 815,882 shares, compared to its average volume of 299,518. The firm has a market cap of C$4.55 billion, a PE ratio of 13.14, a P/E/G ratio of 0.14 and a beta of 3.04. The stock has a fifty day moving average price of C$26.75 and a 200 day moving average price of C$29.23. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.75 and a quick ratio of 0.68. Paramount Resources has a fifty-two week low of C$24.51 and a fifty-two week high of C$33.06.

Paramount Resources Dividend Announcement

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