Paramount Resources (TSE:POU) Raised to Hold at Cormark

Cormark upgraded shares of Paramount Resources (TSE:POU) to a hold rating in a report released on Monday morning, Zacks.com reports.

POU has been the topic of a number of other research reports. BMO Capital Markets upped their target price on Paramount Resources from C$38.50 to C$40.00 in a report on Wednesday, July 3rd. CIBC upped their price target on shares of Paramount Resources from C$37.00 to C$38.00 in a research note on Monday, July 15th. Scotiabank boosted their target price on Paramount Resources from C$42.00 to C$43.00 in a research note on Friday, July 12th. Finally, Jefferies Financial Group reduced their price target on Paramount Resources from C$36.00 to C$29.00 and set a buy rating for the company in a report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of C$37.25.

Paramount Resources Price Performance

TSE:POU opened at C$25.78 on Monday. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 0.83. The business’s 50-day moving average price is C$27.73 and its 200 day moving average price is C$29.41. 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 cap of C$3.78 billion, a P/E ratio of 11.16, a PEG ratio of 0.14 and a beta of 3.06.

Paramount Resources (TSE:POU) last released its earnings results on Thursday, August 1st. The company reported C$0.57 EPS for the quarter. The business had revenue of C$443.60 million during the quarter, compared to analyst estimates of C$468.00 million. Paramount Resources had a net margin of 19.66% and a return on equity of 10.03%.

Paramount Resources Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.80 annualized dividend and a yield of 6.98%. Paramount Resources’s dividend payout ratio (DPR) is presently 77.92%.

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.