Paramount Resources (TSE:POU) Price Target Cut to C$35.00 by Analysts at Jefferies Financial Group

Paramount Resources (TSE:POU) had its target price decreased by Jefferies Financial Group from C$37.00 to C$35.00 in a research report released on Thursday morning,BayStreet.CA reports. Jefferies Financial Group currently has a buy rating on the stock.

Other analysts have also issued reports about the company. CIBC lifted their price objective on Paramount Resources from C$38.00 to C$39.50 in a research report on Friday, November 15th. Cibc World Mkts raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Cormark raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 15th. Royal Bank of Canada lifted 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, Scotiabank increased their price target on Paramount Resources from C$43.00 to C$44.00 in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$38.20.

Paramount Resources Stock Performance

POU stock opened at C$29.18 on Thursday. The stock has a market capitalization of C$4.28 billion, a PE ratio of 12.36, 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 company has a 50 day moving average price of C$28.86 and a 200 day moving average price of C$29.03. Paramount Resources has a fifty-two week low of C$24.51 and a fifty-two week high of C$33.06.

Paramount Resources Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st will be given a $0.15 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 6.17%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Resources’s dividend payout ratio (DPR) is currently 76.27%.

Insider Buying and Selling at Paramount Resources

In related news, insider Brenda Gail Riddell purchased 100,000 shares of the stock in a transaction on Monday, November 25th. The shares were purchased at an average price of C$31.30 per share, with a total value of C$3,129,630.00. Also, Senior Officer Garth W.J. Stotts sold 12,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of C$31.02, for a total value of C$372,183.60. Company insiders own 45.36% of the company’s stock.

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.