Paramount Resources Ltd. (TSE:POU) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Paramount Resources Ltd. has received a consensus rating of "Moderate Buy" from four brokerages, with an average price target of C$24.83.
• The company announced a dividend of $0.05 per share, set to be paid on September 29, 2023, with an impressive yield of 289.0%.
• As of now, shares of Paramount Resources are trading at C$21.81, reflecting a 0.8% increase.

Paramount Resources Ltd. (TSE:POU - Get Free Report) has received a consensus rating of "Moderate Buy" from the four brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is C$24.83.

POU has been the topic of several research reports. Jefferies Financial Group boosted their price target on Paramount Resources from C$21.00 to C$25.00 in a report on Wednesday, July 23rd. Royal Bank Of Canada boosted their price target on Paramount Resources from C$23.00 to C$26.00 and gave the stock a "sector perform" rating in a report on Tuesday.

Paramount Resources Stock Up 0.8%

Shares of TSE POU opened at C$21.81 on Wednesday. The company has a market cap of C$3.13 billion, a price-to-earnings ratio of 2.17, a PEG ratio of 0.14 and a beta of 0.68. The company has a current ratio of 0.62, a quick ratio of 0.68 and a debt-to-equity ratio of 2.06. The stock has a 50-day moving average price of C$20.65 and a two-hundred day moving average price of C$19.32. Paramount Resources has a 12 month low of C$14.33 and a 12 month high of C$32.83.

Paramount Resources Dividend Announcement

The company also recently declared a sep 25 dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 29th will be issued a dividend of $0.05 per share. This represents a dividend yield of 289.0%. The ex-dividend date is Monday, September 15th. Paramount Resources's payout ratio is 11.94%.

Paramount Resources Company Profile

Paramount Resources Ltd is a Canadian energy company that explores, develops, produces, and markets natural gas, crude oil, and natural gas liquids. The company takes part in exploration and production in Alberta and British Columbia. Sales for Paramount's products are priced in a multitude of markets that span the United States and Canada.

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