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

Paramount Resources (TSE:POU) had its target price reduced by investment analysts at Jefferies Financial Group from C$37.00 to C$35.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s price target would suggest a potential upside of 21.23% from the stock’s previous close.

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

Paramount Resources Price Performance

Shares of POU stock traded down C$0.59 on Thursday, reaching C$28.87. The company’s stock had a trading volume of 449,951 shares, compared to its average volume of 315,739. The company has a market capitalization of C$4.24 billion, a P/E ratio of 12.23, a PEG ratio of 0.14 and a beta of 3.04. Paramount Resources has a 12-month low of C$24.51 and a 12-month high of C$33.06. The stock’s 50 day simple moving average is C$28.85 and its 200-day simple moving average is C$29.03. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 0.83.

Insiders Place Their Bets

In other Paramount Resources news, Director Kimberley Elizabeth Lynch Proctor purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was bought at an average cost of C$31.36 per share, for a total transaction of C$94,080.00. Also, Senior Officer David Blake Reid sold 68,000 shares of Paramount Resources stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of C$30.90, for a total transaction of C$2,101,200.00. 45.36% of the stock is currently owned by company insiders.

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.