Paramount Resources (TSE:POU) Sets New 52-Week High – What’s Next?

Shares of Paramount Resources Ltd. (TSE:POU) hit a new 52-week high during trading on Friday . The company traded as high as C$26.97 and last traded at C$26.90, with a volume of 146003 shares traded. The stock had previously closed at C$25.94.

Analysts Set New Price Targets

A number of analysts recently issued reports on POU shares. Scotiabank boosted their price target on Paramount Resources from C$29.00 to C$31.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Jefferies Financial Group decreased their target price on Paramount Resources from C$29.00 to C$28.00 in a research report on Tuesday, January 20th. Finally, Raymond James Financial raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Thursday, January 15th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$27.58.

Paramount Resources Stock Performance

The business has a fifty day simple moving average of C$24.62 and a two-hundred day simple moving average of C$23.19. The company has a market cap of C$3.88 billion, a PE ratio of 2.88, a price-to-earnings-growth ratio of 0.14 and a beta of 0.19. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.62 and a quick ratio of 0.68.

Paramount Resources Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 27th will be issued a $0.05 dividend. The ex-dividend date is Friday, February 13th. This represents a c) dividend on an annualized basis and a yield of 2.2%. Paramount Resources’s payout ratio is currently 9.58%.

About Paramount Resources

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”.