Paramount Resources (TSE:POU) Upgraded by Cormark to Moderate Buy Rating

Cormark upgraded shares of Paramount Resources (TSE:POU) from a hold rating to a moderate buy rating in a research report sent to investors on Friday morning,Zacks.com reports.

Several other equities research analysts have also recently weighed in on POU. Scotiabank boosted their price objective on Paramount Resources from C$43.00 to C$44.00 in a research note on Friday. 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. Royal Bank of Canada increased their price target on Paramount Resources from C$34.00 to C$37.00 in a research report on Friday. CIBC lifted their price objective on shares of Paramount Resources from C$38.00 to C$39.50 in a report on Friday. Finally, Jefferies Financial Group cut their target price on Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$37.60.

Paramount Resources Price Performance

TSE POU opened at C$31.01 on Friday. The company’s 50 day moving average price is C$26.82. Paramount Resources has a 1-year low of C$24.51 and a 1-year high of C$33.06. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.75 and a quick ratio of 0.68. The stock has a market cap of C$4.55 billion, a PE ratio of 13.14, a PEG ratio of 0.14 and a beta of 3.04.

Paramount Resources Dividend Announcement

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

Insider Buying and Selling at Paramount Resources

In related news, Senior Officer Garth W.J. Stotts sold 12,000 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of C$31.02, for a total transaction of C$372,183.60. Company 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.