Jefferies Financial Group Issues Positive Forecast for Paramount Resources (TSE:POU) Stock Price

Paramount Resources (TSE:POU) had its target price hoisted by equities researchers at Jefferies Financial Group from C$36.00 to C$37.00 in a note issued to investors on Monday,BayStreet.CA reports. Jefferies Financial Group’s target price would suggest a potential upside of 23.95% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Cormark raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 15th. Cibc World Mkts upgraded Paramount Resources from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Royal Bank of Canada lifted their price objective on shares of Paramount Resources from C$34.00 to C$37.00 in a research report on Friday, November 15th. Scotiabank increased their price objective on Paramount Resources from C$43.00 to C$44.00 in a report on Friday, November 15th. Finally, CIBC boosted their target price on Paramount Resources from C$38.00 to C$39.50 in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Paramount Resources has an average rating of “Moderate Buy” and an average price target of C$38.40.

Paramount Resources Price Performance

Shares of TSE:POU traded down C$0.50 during midday trading on Monday, hitting C$29.85. The stock had a trading volume of 226,557 shares, compared to its average volume of 313,101. The company’s 50-day moving average price is C$28.73 and its 200-day moving average price is C$29.06. The company has a market capitalization of C$4.38 billion, a P/E ratio of 12.62, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 0.83. Paramount Resources has a fifty-two week low of C$24.51 and a fifty-two week high of C$33.06.

Insider Activity

In other news, Director Kimberley Elizabeth Lynch Proctor acquired 3,000 shares of Paramount Resources stock in a transaction on Friday, November 22nd. The shares were acquired at an average price of C$31.36 per share, with a total value of C$94,080.00. Also, insider Brenda Gail Riddell bought 100,000 shares of Paramount Resources stock in a transaction dated Monday, November 25th. The stock was acquired at an average price of C$31.30 per share, for a total transaction of C$3,129,630.00. 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.