Scotiabank Raises Paramount Resources (TSE:POU) Price Target to C$46.00

Paramount Resources (TSE:POU) had its price target boosted by Scotiabank from C$44.00 to C$46.00 in a report released on Friday,BayStreet.CA reports.

A number of other research analysts also recently weighed in on the stock. Cormark upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. Jefferies Financial Group lowered their price target on Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Cibc World Mkts raised Paramount Resources from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. CIBC increased their target price on Paramount Resources from C$38.00 to C$39.50 in a report on Friday, November 15th. Finally, Royal Bank of Canada raised their target price on Paramount Resources from C$34.00 to C$37.00 in a research report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$38.40.

Paramount Resources Price Performance

Shares of TSE:POU opened at C$29.65 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.75. The firm has a market cap of C$4.35 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. The business has a 50-day simple moving average of C$30.62 and a two-hundred day simple moving average of C$28.97. Paramount Resources has a fifty-two week low of C$24.51 and a fifty-two week high of C$33.06.

Paramount Resources Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 31st will be paid a dividend of $0.15 per share. This represents a $1.80 dividend on an annualized basis and a yield of 6.07%. The ex-dividend date is Wednesday, January 15th. Paramount Resources’s payout ratio is 76.27%.

Insider Buying and Selling at Paramount Resources

In other Paramount Resources news, Director Kimberley Elizabeth Lynch Proctor bought 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average price of C$31.36 per share, for a total transaction of C$94,080.00. Also, Senior Officer Garth W.J. Stotts sold 12,000 shares of Paramount Resources stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of C$31.02, for a total value of C$372,183.60. Over the last 90 days, insiders have bought 103,248 shares of company stock valued at $3,231,616 and have sold 88,320 shares valued at $2,730,172. Insiders own 45.36% of the company’s stock.

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.