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

Paramount Resources (TSE:POU) had its price objective reduced by equities researchers at Jefferies Financial Group from C$37.00 to C$35.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 19.70% from the stock’s previous close.

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

Paramount Resources Trading Up 0.2 %

Shares of POU stock opened at C$29.24 on Thursday. The business’s fifty day moving average is C$28.90 and its 200 day moving average is C$29.01. Paramount Resources has a 52-week low of C$24.51 and a 52-week high of C$33.06. The company has a market capitalization of C$4.29 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.75.

Insider Buying and Selling at Paramount Resources

In other news, Director Kimberley Elizabeth Lynch Proctor bought 3,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were bought at an average price 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 the company’s stock in a transaction on Wednesday, November 20th. The stock was 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 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.