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

Paramount Resources (TSE:POU) had its price target reduced by equities researchers at Jefferies Financial Group from C$35.00 to C$21.00 in a note issued to investors on Monday,BayStreet.CA reports. Jefferies Financial Group’s price target indicates a potential upside of 19.45% from the company’s previous close.

Several other research firms also recently weighed in on POU. National Bank Financial downgraded Paramount Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. CIBC cut their price target on Paramount Resources from C$39.50 to C$24.50 in a research note on Wednesday, February 19th. Cormark upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. BMO Capital Markets cut their target price on shares of Paramount Resources from C$40.00 to C$25.00 in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada cut their price objective on Paramount Resources from C$34.00 to C$19.00 in a research report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Paramount Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of C$30.11.

Paramount Resources Price Performance

POU traded down C$0.07 on Monday, hitting C$17.58. 706,621 shares of the company were exchanged, compared to its average volume of 1,018,181. Paramount Resources has a fifty-two week low of C$16.60 and a fifty-two week high of C$33.06. 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 price-to-earnings-growth ratio of 0.14 and a beta of 3.04. The business’s fifty day moving average is C$29.68 and its 200 day moving average is C$28.54.

Insiders Place Their Bets

In other news, Senior Officer Michael S. Han sold 8,320 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was 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 corporate 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.