Scotiabank Issues Positive Forecast for Paramount Resources (TSE:POU) Stock Price

Paramount Resources (TSE:POU) had its price target lifted by Scotiabank from C$43.00 to C$44.00 in a research note released on Friday,BayStreet.CA reports.

A number of other research firms have also weighed in on POU. Jefferies Financial Group reduced their price objective on 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. Cormark raised Paramount Resources to a “hold” rating in a research note on Monday, September 23rd. Finally, Cibc World Mkts raised Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$37.60.

Paramount Resources Stock Down 1.0 %

POU traded down C$0.30 during midday trading on Friday, reaching C$31.01. The company’s stock had a trading volume of 815,882 shares, compared to its average volume of 299,518. Paramount Resources has a 1 year low of C$24.51 and a 1 year high of C$33.06. The stock’s 50-day moving average is C$26.75 and its 200-day moving average is C$29.23. The firm has a market capitalization of C$4.55 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 0.14 and a beta of 3.04. 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 Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 29th will be issued 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 payout ratio is 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.