Paramount Resources (TSE:POU) Stock Rating Upgraded by Cibc World Mkts

Cibc World Mkts upgraded shares of Paramount Resources (TSE:POU - Free Report) from a hold rating to a strong-buy rating in a research report released on Thursday, Zacks.com reports.

POU has been the topic of a number of other research reports. BMO Capital Markets raised their price objective on Paramount Resources from C$38.50 to C$40.00 in a research report on Wednesday, July 3rd. Jefferies Financial Group cut their price objective on shares of Paramount Resources from C$36.00 to C$29.00 and set a "buy" rating on the stock in a research report on Monday, September 16th. Cormark raised shares of Paramount Resources to a "hold" rating in a research report on Monday, September 23rd. CIBC lifted their price target on shares of Paramount Resources from C$37.00 to C$38.00 in a report on Monday, July 15th. Finally, Scotiabank increased their price objective on Paramount Resources from C$42.00 to C$43.00 in a report on Friday, July 12th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of C$37.25.

Paramount Resources Stock Up 0.1 %

TSE POU traded up C$0.03 during trading on Thursday, reaching C$26.65. 497,948 shares of the company's stock traded hands, compared to its average volume of 269,275. Paramount Resources has a 12-month low of C$24.51 and a 12-month high of C$33.80. 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 firm has a market cap of C$3.91 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. The company's 50 day simple moving average is C$26.98 and its two-hundred day simple moving average is C$29.46.

Paramount Resources (TSE:POU - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported C$0.57 earnings per share (EPS) for the quarter. The company had revenue of C$443.60 million for the quarter, compared to analyst estimates of C$468.00 million. Paramount Resources had a net margin of 19.66% and a return on equity of 10.03%. As a group, sell-side analysts forecast that Paramount Resources will post 1.4075758 EPS for the current fiscal year.

Paramount Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be paid a $0.15 dividend. This represents a $1.80 annualized dividend and a dividend yield of 6.75%. The ex-dividend date of this dividend is Tuesday, October 15th. Paramount Resources's payout ratio is 76.27%.

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.