Cormark Upgrades Paramount Resources (TSE:POU) to Hold

Cormark upgraded shares of Paramount Resources (TSE:POU) to a hold rating in a research report released on Monday, Zacks.com reports.

A number of other equities analysts have also recently issued reports on POU. BMO Capital Markets increased their price objective on shares of Paramount Resources from C$38.50 to C$40.00 in a research note on Wednesday, July 3rd. CIBC increased their price target on shares of Paramount Resources from C$37.00 to C$38.00 in a research report on Monday, July 15th. Scotiabank lifted their price objective on Paramount Resources from C$42.00 to C$43.00 in a report on Friday, July 12th. Finally, Jefferies Financial Group dropped their target price on Paramount Resources from C$36.00 to C$29.00 and set a buy rating for the company in a report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of C$37.25.

Paramount Resources Stock Down 1.2 %

POU stock opened at C$25.48 on Monday. Paramount Resources has a twelve month low of C$24.51 and a twelve month high of C$33.80. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 0.83. The company has a market cap of C$3.74 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 0.14 and a beta of 3.06. The business’s 50-day simple moving average is C$27.60 and its 200 day simple moving average is C$29.40.

Paramount Resources (TSE:POU) last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.57 earnings per share 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 return on equity of 10.03% and a net margin of 19.66%.

Paramount Resources Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, September 16th will be issued a $0.15 dividend. This represents a $1.80 annualized dividend and a dividend yield of 7.06%. The ex-dividend date is Monday, September 16th. Paramount Resources’s payout ratio is currently 77.92%.

Paramount Resources Company Profile

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.