Jefferies Financial Group Forecasts Strong Price Appreciation for Paramount Resources (TSE:POU) Stock

Paramount Resources (TSE:POU) had its price target upped by equities research analysts at Jefferies Financial Group from C$36.00 to C$37.00 in a research note issued on Monday,BayStreet.CA reports. Jefferies Financial Group’s price target would suggest a potential upside of 23.91% from the stock’s previous close.

A number of other equities analysts have also weighed in on POU. Cibc World Mkts upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. CIBC boosted their target price on shares of Paramount Resources from C$38.00 to C$39.50 in a report on Friday, November 15th. Scotiabank boosted their target price on shares of Paramount Resources from C$43.00 to C$44.00 in a report on Friday, November 15th. Royal Bank of Canada boosted their target price on shares of Paramount Resources from C$34.00 to C$37.00 in a report on Friday, November 15th. Finally, Cormark upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a report 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$38.40.

Paramount Resources Stock Performance

POU opened at C$29.86 on Monday. The firm has a market capitalization of C$4.38 billion, a PE ratio of 12.53, a PEG ratio of 0.14 and a beta of 3.04. Paramount Resources has a twelve month low of C$24.51 and a twelve month high of C$33.06. The firm’s 50-day moving average price is C$28.79 and its 200 day moving average price is C$29.04. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83.

Insider Activity

In related news, Senior Officer Garth W.J. Stotts sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of C$31.02, for a total transaction of C$372,183.60. Also, Director Kimberley Elizabeth Lynch Proctor bought 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were acquired at an average cost of C$31.36 per share, for a total transaction of C$94,080.00. 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.