Paramount Resources (TSE:POU) Given New C$31.00 Price Target at Scotiabank

Paramount Resources (TSE:POU) had its target price hoisted by Scotiabank from C$29.00 to C$31.00 in a research note published on Wednesday,BayStreet.CA reports. They currently have an outperform rating on the stock.

POU has been the subject of several other reports. Jefferies Financial Group cut their price objective on Paramount Resources from C$29.00 to C$28.00 in a research report on Tuesday. National Bankshares boosted their price target on Paramount Resources from C$25.00 to C$27.50 and gave the stock a “sector perform” rating in a report on Thursday, September 25th. Raymond James Financial raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Thursday, January 15th. CIBC lifted their price objective on Paramount Resources from C$25.00 to C$26.00 in a research report on Wednesday, October 15th. Finally, Royal Bank Of Canada boosted their target price on shares of Paramount Resources from C$23.00 to C$26.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 23rd. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$27.21.

Paramount Resources Stock Up 0.1%

Paramount Resources stock opened at C$24.07 on Wednesday. The firm has a market capitalization of C$3.46 billion, a price-to-earnings ratio of 2.56, a price-to-earnings-growth ratio of 0.14 and a beta of 0.29. Paramount Resources has a fifty-two week low of C$14.33 and a fifty-two week high of C$32.83. The stock’s fifty day moving average is C$24.10 and its two-hundred day moving average is C$22.44. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.68 and a current ratio of 0.62.

Paramount Resources (TSE:POU) last posted its earnings results on Tuesday, November 4th. The company reported C($0.02) earnings per share for the quarter. Paramount Resources had a net margin of 18.92% and a return on equity of 10.06%. The business had revenue of C$187.30 million for the quarter. Analysts predict that Paramount Resources will post 1.4075758 EPS for the current fiscal year.

Paramount Resources Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.05 per share. The ex-dividend date was Monday, December 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.5%. Paramount Resources’s payout ratio is presently 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”.