Paramount Resources (TSE:POU) Stock Price Expected to Rise, Scotiabank Analyst Says

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

Several other equities research analysts have also recently commented on POU. Jefferies Financial Group cut their price target on Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Cormark raised shares of Paramount Resources to a “hold” rating in a research note on Monday, September 23rd. Finally, Cibc World Mkts upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$37.60.

Paramount Resources Stock Performance

Shares of TSE POU opened at C$31.01 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 stock has a market capitalization 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 company has a 50 day moving average price of C$26.82. Paramount Resources has a twelve month low of C$24.51 and a twelve month high of C$33.06.

Paramount Resources Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 29th will be given a dividend of $0.15 per share. This represents a $1.80 annualized dividend and a yield of 5.80%. The ex-dividend date of this dividend is Friday, November 15th. Paramount Resources’s dividend payout ratio (DPR) is 76.27%.

Insider Activity

In other news, Senior Officer Garth W.J. Stotts sold 12,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of C$31.02, for a total value of C$372,183.60. Corporate insiders own 45.36% of the company’s stock.

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.