Paramount Resources Ltd. to Issue Monthly Dividend of $0.15 (TSE:POU)

Paramount Resources Ltd. (TSE:POU) announced a monthly dividend on Friday, November 15th,Zacks Dividends reports. Investors of record on Friday, November 29th will be paid 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 6.62%. The ex-dividend date is Friday, November 15th.

Paramount Resources Stock Performance

Shares of Paramount Resources stock opened at C$27.17 on Wednesday. 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’s fifty day moving average is C$26.70 and its two-hundred day moving average is C$29.25. Paramount Resources has a 52 week low of C$24.51 and a 52 week high of C$33.06. The company has a market capitalization of C$3.99 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Cormark upgraded shares of Paramount Resources to a “hold” rating in a report on Monday, September 23rd. Jefferies Financial Group decreased their price target on shares of Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Finally, Cibc World Mkts raised 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 issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Paramount Resources currently 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.