Jefferies Financial Group Cuts Paramount Resources (TSE:POU) Price Target to C$35.00

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

A number of other research analysts have also recently weighed in on the stock. 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. CIBC raised their price target on Paramount Resources from C$38.00 to C$39.50 in a research report on Friday, November 15th. Royal Bank of Canada upped their price objective on Paramount Resources from C$34.00 to C$37.00 in a research report on Friday, November 15th. Cormark upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. Finally, Scotiabank upped their target price on shares of Paramount Resources from C$43.00 to C$44.00 in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$38.20.

Paramount Resources Price Performance

Shares of TSE POU opened at C$29.24 on Thursday. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83. The company’s 50-day moving average price is C$28.90 and its 200 day moving average price is C$28.98. Paramount Resources has a 52 week low of C$24.51 and a 52 week high of C$33.06. The stock has a market cap of C$4.29 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 0.14 and a beta of 3.04.

Paramount Resources Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.15 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.16%. Paramount Resources’s dividend payout ratio (DPR) is presently 76.27%.

Insider Activity

In other Paramount Resources news, Director Kimberley Elizabeth Lynch Proctor bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average price of C$31.36 per share, with a total value of C$94,080.00. Also, insider Brenda Gail Riddell purchased 100,000 shares of the business’s stock in a transaction that occurred on 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. Corporate 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.