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

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

POU has been the subject of a number of other reports. Cibc World Mkts raised Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Jefferies Financial Group dropped their price target on shares of 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. Royal Bank of Canada upped their price objective on shares of Paramount Resources from C$34.00 to C$37.00 in a report on Friday. Scotiabank lifted their target price on shares of Paramount Resources from C$43.00 to C$44.00 in a report on Friday. Finally, Cormark raised Paramount Resources to a “hold” rating in a research report on Monday, September 23rd. Two investment 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$37.60.

Paramount Resources Trading Down 1.0 %

Paramount Resources stock traded down C$0.30 during mid-day trading on Friday, hitting 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 company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of C$4.55 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. The stock’s fifty day moving average is C$26.75 and its two-hundred day moving average is C$29.23.

Paramount Resources Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 29th will be paid a dividend of $0.15 per share. The ex-dividend date 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%.

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.