Paramount Resources (TSE:POU) Price Target Cut to C$21.00 by Analysts at Jefferies Financial Group

Paramount Resources (TSE:POU) had its target price reduced by equities research analysts at Jefferies Financial Group from C$35.00 to C$21.00 in a report issued on Monday,BayStreet.CA reports. Jefferies Financial Group’s price target suggests a potential upside of 19.45% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Scotiabank decreased their price objective on shares of Paramount Resources from C$46.00 to C$31.00 in a research report on Wednesday, February 19th. Royal Bank of Canada dropped their price objective on Paramount Resources from C$34.00 to C$19.00 in a report on Tuesday, February 18th. Cormark upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 15th. National Bank Financial cut shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, BMO Capital Markets dropped their target price on shares of Paramount Resources from C$40.00 to C$25.00 in a research report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Paramount Resources has an average rating of “Moderate Buy” and an average target price of C$30.11.

Paramount Resources Stock Down 0.4 %

Shares of POU traded down C$0.07 during midday trading on Monday, hitting C$17.58. The company had a trading volume of 706,621 shares, compared to its average volume of 1,018,181. Paramount Resources has a 1 year low of C$16.60 and a 1 year high of C$33.06. The company’s 50-day simple moving average is C$29.68 and its 200-day simple moving average is C$28.54. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.68 and a current ratio of 0.62. The firm has a market capitalization of C$2.62 billion, a P/E ratio of 7.20, a P/E/G ratio of 0.14 and a beta of 3.04.

Insiders Place Their Bets

In related news, Senior Officer Michael S. Han sold 8,320 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of C$30.86, for a total transaction of C$256,788.48. 45.36% of the stock is owned by insiders.

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.