Paramount Resources (TSE:POU) Price Target Raised to C$32.50

Paramount Resources (TSE:POU) had its target price hoisted by National Bank Financial from C$32.00 to C$32.50 in a research note released on Wednesday morning,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

A number of other brokerages also recently issued reports on POU. Canadian Imperial Bank of Commerce lifted their price target on Paramount Resources from C$25.50 to C$30.50 in a research report on Wednesday. Jefferies Financial Group lowered their target price on shares of Paramount Resources from C$29.00 to C$28.00 in a research note on Tuesday, January 20th. Raymond James Financial upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Thursday, January 15th. Roth Mkm set a C$33.00 price target on shares of Paramount Resources and gave the stock a “buy” rating in a research note on Wednesday. Finally, Scotiabank boosted their price target on shares of Paramount Resources from C$29.00 to C$31.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Paramount Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of C$31.22.

Paramount Resources Price Performance

TSE:POU opened at C$29.34 on Wednesday. The firm has a market capitalization of C$4.21 billion, a price-to-earnings ratio of 3.12, a P/E/G ratio of 0.14 and a beta of 0.14. Paramount Resources has a 52-week low of C$14.50 and a 52-week high of C$30.07. The stock has a fifty day moving average of C$25.17 and a 200 day moving average of C$23.55. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.68 and a current ratio of 3.77.

Paramount Resources (TSE:POU) last posted its earnings results on Tuesday, March 3rd. The company reported C($0.03) EPS for the quarter. The business had revenue of C$262.50 million for the quarter. Paramount Resources had a return on equity of 48.07% and a net margin of 129.11%. On average, research analysts expect that Paramount Resources will post 1.4075758 EPS for the current fiscal year.

Paramount Resources Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 27th were paid a dividend of $0.05 per share. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, February 13th. Paramount Resources’s dividend payout ratio is 9.58%.

About Paramount Resources

Paramount is an independent, publicly traded Canadian energy company that explores for and develops both conventional and unconventional petroleum and natural gas, including longer-term strategic exploration and pre-development plays. The Company’s principal properties are located in Alberta and British Columbia. Paramount’s class A common shares are listed on the Toronto Stock Exchange under the symbol “POU”.