Paramount Resources (TSE:POU) Upgraded by Raymond James to “Moderate Buy” Rating

Raymond James upgraded shares of Paramount Resources (TSE:POU) to a moderate buy rating in a report released on Monday,Zacks.com reports.

Several other analysts have also issued reports on POU. BMO Capital Markets cut their price target on shares of Paramount Resources from C$40.00 to C$25.00 in a research report on Wednesday, February 19th. Scotiabank dropped their target price on Paramount Resources from C$46.00 to C$31.00 in a report on Wednesday, February 19th. Royal Bank of Canada decreased their price target on Paramount Resources from C$34.00 to C$19.00 in a research note on Tuesday, February 18th. CIBC lowered their price objective on Paramount Resources from C$39.50 to C$24.50 in a research report on Wednesday, February 19th. Finally, Jefferies Financial Group decreased their target price on shares of Paramount Resources from C$35.00 to C$21.00 in a research note on Monday, February 24th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$27.19.

Paramount Resources Stock Up 8.7 %

Shares of TSE POU opened at C$16.45 on Monday. The stock has a market capitalization of C$2.45 billion, a P/E ratio of 6.74, a PEG ratio of 0.14 and a beta of 3.04. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.62 and a quick ratio of 0.68. Paramount Resources has a one year low of C$14.33 and a one year high of C$33.06. The firm’s 50 day simple moving average is C$20.13 and its two-hundred day simple moving average is C$25.99.

Paramount Resources Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 30th will be given a $0.05 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.60 annualized dividend and a dividend yield of 3.65%. Paramount Resources’s dividend payout ratio is 73.70%.

Insider Activity

In other news, Director Dirk Jungé acquired 3,000 shares of the stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of C$15.63 per share, with a total value of C$46,876.32. Also, Senior Officer Rodrigo Sousa bought 5,600 shares of Paramount Resources stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of C$15.78 per share, for a total transaction of C$88,365.76. In the last 90 days, insiders have purchased 8,848 shares of company stock valued at $143,148. Corporate insiders own 45.36% of the company’s stock.

Paramount Resources Company Profile

Paramount Resources Ltd is a Canadian energy company that explores, develops, produces, and markets natural gas, crude oil, and natural gas liquids. The company takes part in exploration and production in Alberta and British Columbia. Sales for Paramount’s products are priced in a multitude of markets that span the United States and Canada.