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

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

POU has been the subject of several other research reports. Cormark raised Paramount Resources to a “hold” rating in a report on Monday, September 23rd. Scotiabank lifted their target price on shares of 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 lifted their price objective on shares of Paramount Resources from C$34.00 to C$37.00 in a research note on Friday. Finally, Jefferies Financial Group lowered their target price on shares of Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Two equities research 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$37.60.

Paramount Resources Stock Performance

Shares of TSE POU opened at C$31.01 on Friday. 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’s fifty 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 market capitalization of C$4.55 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04.

Paramount Resources Announces Dividend

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

Insider Activity

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

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.