Paramount Resources (TSE:POU) Upgraded at Scotiabank

Scotiabank upgraded shares of Paramount Resources (TSE:POU) from a hold rating to a sector outperform rating in a research note issued to investors on Monday, MarketBeat reports. They currently have C$42.00 price objective on the stock, up from their previous price objective of C$40.00.

Several other equities research analysts also recently commented on POU. BMO Capital Markets increased their price objective on Paramount Resources from C$35.00 to C$37.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Royal Bank Of Canada raised their target price on shares of Paramount Resources from C$35.00 to C$37.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. ATB Cormark Capital Markets boosted their target price on shares of Paramount Resources from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Finally, Scotia upped their price target on shares of Paramount Resources from C$34.00 to C$36.00 and gave the stock a “sector perform” rating in a research report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$35.45.

Paramount Resources Stock Performance

POU opened at C$32.96 on Monday. The business’s 50-day simple moving average is C$32.20 and its 200 day simple moving average is C$29.81. Paramount Resources has a 52-week low of C$21.69 and a 52-week high of C$35.32. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.68 and a current ratio of 1.30. The firm has a market capitalization of C$4.82 billion, a PE ratio of -17.72, a PEG ratio of 0.14 and a beta of -0.07.

Paramount Resources (TSE:POU) last posted its quarterly earnings results on Thursday, November 5th. The company reported C($2.65) earnings per share for the quarter. The company had revenue of C$257.10 million during the quarter. Paramount Resources had a negative net margin of 22.36% and a negative return on equity of 10.12%. As a group, sell-side analysts expect that Paramount Resources will post 1.41 earnings per share for the current fiscal year.

Paramount Resources Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 30th will be given a dividend of $0.05 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, November 16th. Paramount Resources’s payout ratio is -32.26%.

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”.