Paramount Resources (TSE:POU) Given New C$35.00 Price Target at Jefferies Financial Group

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

Several other research analysts have also recently weighed in on POU. Royal Bank of Canada increased their price objective on Paramount Resources from C$34.00 to C$37.00 in a research report on Friday, November 15th. CIBC lifted their price objective on shares of Paramount Resources from C$38.00 to C$39.50 in a research note on Friday, November 15th. Scotiabank increased their target price on shares of Paramount Resources from C$43.00 to C$44.00 in a research report on Friday, November 15th. Cormark raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. Finally, Cibc World Mkts upgraded Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$38.20.

Paramount Resources Trading Down 1.0 %

Shares of POU stock opened at C$29.18 on Thursday. The company 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 quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 0.83. Paramount Resources has a 12-month low of C$24.51 and a 12-month high of C$33.06. The firm has a 50 day moving average price of C$28.86 and a two-hundred day moving average price of C$29.03.

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 given a $0.15 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.80 dividend on an annualized basis and a yield of 6.17%. Paramount Resources’s dividend payout ratio is currently 76.27%.

Insiders Place Their Bets

In other news, insider Brenda Gail Riddell purchased 100,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were purchased at an average cost of C$31.30 per share, with a total value of C$3,129,630.00. Also, Senior Officer David Blake Reid sold 68,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of C$30.90, for a total value of C$2,101,200.00. 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.