Paramount Resources Ltd. (TSE:POU) Declares $0.15 Monthly Dividend

Paramount Resources Ltd. (TSE:POU) announced a monthly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.15 per share on Friday, November 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of ∞. The ex-dividend date of this dividend is Friday, November 15th.

Paramount Resources Price Performance

Paramount Resources has a 1-year low of C$24.51 and a 1-year high of C$33.06. The company’s 50-day moving average price is C$26.74 and its 200 day moving average price is C$29.28. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.75 and a quick ratio of 0.68. The firm has a market capitalization of C$3.93 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 0.14 and a beta of 3.04.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on POU. CIBC boosted their price target on shares of Paramount Resources from C$37.00 to C$38.00 in a report on Monday, July 15th. 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. Cormark upgraded shares of Paramount Resources to a “hold” rating in a research note on Monday, September 23rd. Scotiabank upped their price objective on shares of Paramount Resources from C$42.00 to C$43.00 in a research note on Friday, July 12th. Finally, Cibc World Mkts upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Paramount Resources has a consensus rating of “Moderate Buy” and an average price target of C$37.25.

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.