Jefferies Financial Group Cuts Paramount Resources (TSE:POU) Price Target to C$35.00

Paramount Resources (TSE:POU) had its price objective reduced by Jefferies Financial Group from C$37.00 to C$35.00 in a research note published on Thursday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other research firms have also recently weighed in on POU. Cormark upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 15th. Scotiabank upped their target price on shares of Paramount Resources from C$43.00 to C$44.00 in a report on Friday, November 15th. 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. Royal Bank of Canada upped their price objective on shares of Paramount Resources from C$34.00 to C$37.00 in a research note on Friday, November 15th. Finally, CIBC lifted their target price on Paramount Resources from C$38.00 to C$39.50 in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Paramount Resources has a consensus rating of “Moderate Buy” and an average price target of C$38.20.

Paramount Resources Stock Performance

TSE:POU opened at C$29.24 on Thursday. The firm has a market capitalization of C$4.29 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. 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 business’s fifty day moving average price is C$28.90 and its 200 day moving average price is C$28.98. Paramount Resources has a 12 month low of C$24.51 and a 12 month high of C$33.06.

Paramount Resources Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.15 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.80 annualized dividend and a dividend yield of 6.16%. Paramount Resources’s dividend payout ratio (DPR) is currently 76.27%.

Insider Transactions at Paramount Resources

In other news, Director Kimberley Elizabeth Lynch Proctor purchased 3,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were acquired at an average cost of C$31.36 per share, for a total transaction of C$94,080.00. Also, Senior Officer Garth W.J. Stotts sold 12,000 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of C$31.02, for a total transaction of C$372,183.60. Company insiders own 45.36% of the company’s stock.

About Paramount Resources

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.