Royal Bank of Canada Boosts Paramount Resources (TSE:POU) Price Target to C$37.00

Paramount Resources (TSE:POU - Free Report) had its target price increased by Royal Bank of Canada from C$34.00 to C$37.00 in a research report sent to investors on Friday morning,BayStreet.CA reports.

A number of other analysts have also recently issued reports on POU. Cormark upgraded shares of Paramount Resources to a "hold" rating in a research note on Monday, September 23rd. Scotiabank upped their price objective on shares of Paramount Resources from C$43.00 to C$44.00 in a report on Friday. Jefferies Financial Group reduced 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 report on Monday, September 16th. Finally, Cibc World Mkts raised Paramount Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$37.60.

Paramount Resources Stock Down 1.0 %

Shares of POU traded down C$0.30 during midday trading on Friday, reaching C$31.01. 815,882 shares of the stock were exchanged, compared to its average volume of 299,518. The company has a market cap of C$4.55 billion, a price-to-earnings ratio of 13.14, a P/E/G ratio of 0.14 and a beta of 3.04. The firm has a 50 day simple moving average of C$26.82 and a 200-day simple moving average of C$29.23. Paramount Resources has a 12-month low of C$24.51 and a 12-month high of C$33.06. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 0.83.

Paramount Resources Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 29th will be issued 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 dividend yield of 5.80%. Paramount Resources's dividend payout ratio (DPR) is presently 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.