Paramount Resources (TSE:POU) Price Target Raised to C$31.00

Paramount Resources (TSE:POU) had its price objective raised by Raymond James Financial from C$29.00 to C$31.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other analysts have also commented on the stock. Canadian Imperial Bank of Commerce upped their price objective on shares of Paramount Resources from C$25.50 to C$30.50 in a research note on Wednesday. BMO Capital Markets lifted their target price on shares of Paramount Resources from C$24.00 to C$32.00 and gave the stock an “outperform” rating in a research report on Wednesday. Scotiabank boosted their price target on shares of Paramount Resources from C$29.00 to C$31.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Jefferies Financial Group reduced their price target on shares of Paramount Resources from C$29.00 to C$28.00 in a research report on Tuesday, January 20th. Finally, National Bank Financial raised their price objective on shares of Paramount Resources from C$32.00 to C$32.50 and gave the stock a “sector perform” rating in a research note on Wednesday. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$31.22.

Paramount Resources Stock Down 0.3%

Shares of Paramount Resources stock opened at C$29.34 on Wednesday. Paramount Resources has a 12-month low of C$14.50 and a 12-month high of C$30.07. The firm has a market capitalization of C$4.21 billion, a PE ratio of 3.12, a price-to-earnings-growth ratio of 0.14 and a beta of 0.14. The company has a quick ratio of 0.68, a current ratio of 3.77 and a debt-to-equity ratio of 0.94. The stock’s fifty day moving average is C$25.17 and its 200-day moving average is C$23.55.

Paramount Resources (TSE:POU) last released its quarterly earnings results on Tuesday, March 3rd. The company reported C($0.03) earnings per share for the quarter. The company had revenue of C$262.50 million during the quarter. Paramount Resources had a net margin of 129.11% and a return on equity of 48.07%. Equities analysts anticipate that Paramount Resources will post 1.4075758 earnings per share for the current year.

Paramount Resources Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 27th were given a dividend of $0.05 per share. This represents a c) annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, February 13th. Paramount Resources’s dividend 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”.