Paramount Resources Ltd. (TSE:POU) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Paramount Resources Ltd. (TSE:POU) has been given an average recommendation of “Moderate Buy” by the eight research firms that are covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is C$34.35.

POU has been the topic of several recent research reports. Scotiabank raised shares of Paramount Resources to a “hold” rating in a research report on Friday, June 26th. Scotia lifted their price target on Paramount Resources from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. Royal Bank Of Canada boosted their price objective on Paramount Resources from C$35.00 to C$37.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. ATB Cormark Capital Markets boosted their price objective on 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, BMO Capital Markets increased their price objective on Paramount Resources from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th.

Paramount Resources Stock Down 0.2%

Shares of TSE POU opened at C$33.33 on Thursday. The stock has a market capitalization of C$4.86 billion, a P/E ratio of 42.73, a P/E/G ratio of 0.14 and a beta of -0.16. The company has a 50-day moving average price of C$31.46 and a 200-day moving average price of C$30.02. Paramount Resources has a 1 year low of C$21.69 and a 1 year high of C$33.80. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.87 and a quick ratio of 0.68.

Paramount Resources (TSE:POU) last posted its earnings results on Thursday, August 6th. The company reported C$0.47 EPS for the quarter. The company had revenue of C$317.90 million during the quarter. Paramount Resources had a net margin of 11.19% and a return on equity of 4.30%. On average, equities research analysts forecast that Paramount Resources will post 1.41 EPS for the current fiscal year.

Paramount Resources Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 30th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.8%. Paramount Resources’s payout ratio is presently 76.92%.

Paramount Resources Company Profile

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”.