Paramount Resources (TSE:POU) Hits New 1-Year High – What’s Next?

Shares of Paramount Resources Ltd. (TSE:POU) hit a new 52-week high on Friday . The stock traded as high as C$26.97 and last traded at C$26.90, with a volume of 146003 shares trading hands. The stock had previously closed at C$25.94.

Analyst Upgrades and Downgrades

POU has been the topic of a number of recent analyst reports. Scotiabank lifted their price objective on 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. Raymond James Financial upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Thursday, January 15th. Finally, Jefferies Financial Group reduced their price objective on shares of Paramount Resources from C$29.00 to C$28.00 in a research note on Tuesday, January 20th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Paramount Resources presently has an average rating of “Moderate Buy” and a consensus price target of C$27.58.

Paramount Resources Stock Up 4.1%

The company has a market cap of C$3.88 billion, a price-to-earnings ratio of 2.88, a P/E/G ratio of 0.14 and a beta of 0.19. The stock’s 50-day moving average is C$24.69 and its 200-day moving average is C$23.26. The company has a current ratio of 0.62, a quick ratio of 0.68 and a debt-to-equity ratio of 2.06.

Paramount Resources Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 27th were paid a $0.05 dividend. The ex-dividend date was Friday, February 13th. This represents a c) annualized dividend and a dividend yield of 2.2%. Paramount Resources’s dividend payout ratio (DPR) is currently 9.58%.

Paramount Resources Company Profile

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”.