Royal Bank of Canada Issues Positive Forecast for Paramount Resources (TSE:POU) Stock Price

Paramount Resources (TSE:POU) had its price objective lifted by Royal Bank of Canada from C$34.00 to C$37.00 in a research report sent to investors on Friday morning,BayStreet.CA reports.

POU has been the topic of several other research reports. Cormark upgraded Paramount Resources to a “hold” rating in a research note on Monday, September 23rd. Cibc World Mkts raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Scotiabank upped their price target on shares of Paramount Resources from C$43.00 to C$44.00 in a research report on Friday. Finally, Jefferies Financial Group dropped their price objective on shares of Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Two 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, Paramount Resources presently has an average rating of “Moderate Buy” and a consensus price target of C$37.60.

Paramount Resources Trading Down 1.0 %

TSE:POU traded down C$0.30 during midday trading on Friday, hitting C$31.01. The stock had a trading volume of 815,882 shares, compared to its average volume of 299,518. 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 stock has a 50-day moving average of C$26.75 and a 200 day moving average of C$29.23. The company has a market capitalization of C$4.55 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 0.14 and a beta of 3.04. Paramount Resources has a one year low of C$24.51 and a one year high of C$33.06.

Paramount Resources Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 29th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, November 15th. This represents a $1.80 dividend on an annualized basis and a yield of 5.80%. Paramount Resources’s payout ratio is 76.27%.

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.