Paramount Resources (TSE:POU) Price Target Cut to C$29.00

Paramount Resources (TSE:POU) had its price target decreased by Jefferies Financial Group from C$36.00 to C$29.00 in a report released on Monday, BayStreet.CA reports. Jefferies Financial Group currently has a buy rating on the stock.

POU has been the topic of several other reports. Scotiabank raised their price target on Paramount Resources from C$42.00 to C$43.00 in a research report on Friday, July 12th. CIBC raised their price target on Paramount Resources from C$37.00 to C$38.00 in a research report on Monday, July 15th. Finally, BMO Capital Markets raised their price target on Paramount Resources from C$38.50 to C$40.00 in a research report on Wednesday, July 3rd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of C$37.25.

Paramount Resources Price Performance

POU opened at C$25.69 on Monday. The stock’s 50 day simple moving average is C$28.19 and its 200 day simple moving average is C$29.51. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.75 and a quick ratio of 0.68. Paramount Resources has a 1 year low of C$24.51 and a 1 year high of C$33.80. The firm has a market cap of C$3.77 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 0.14 and a beta of 3.06.

Paramount Resources (TSE:POU) last posted its quarterly earnings results on Thursday, August 1st. The company reported C$0.57 earnings per share (EPS) for the quarter. Paramount Resources had a return on equity of 10.03% and a net margin of 19.66%. The business had revenue of C$443.60 million for the quarter, compared to analyst estimates of C$468.00 million.

Paramount Resources Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, September 16th will be given a $0.15 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.01%. Paramount Resources’s dividend payout ratio is currently 77.92%.

Insider Activity

In other news, Senior Officer John B. Williams sold 11,929 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of C$31.00, for a total value of C$369,799.00. 45.36% of the stock is currently owned by company insiders.

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.