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

Paramount Resources (TSE:POU) had its price target lifted by Jefferies Financial Group from C$36.00 to C$37.00 in a research report released on Monday,BayStreet.CA reports.

A number of other analysts have also commented on POU. Scotiabank boosted their price target on Paramount Resources from C$43.00 to C$44.00 in a report on Friday, November 15th. CIBC upped 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 lifted their price objective on shares of Paramount Resources from C$34.00 to C$37.00 in a report on Friday, November 15th. Cormark upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. Finally, 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. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$38.40.

Paramount Resources Trading Down 1.5 %

POU opened at C$29.89 on Monday. The stock has a market capitalization of C$4.38 billion, a P/E ratio of 12.61, a P/E/G ratio of 0.14 and a beta of 3.04. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83. Paramount Resources has a 12 month low of C$24.51 and a 12 month high of C$33.06. The firm’s fifty day simple moving average is C$28.73 and its 200 day simple moving average is C$29.06.

Paramount Resources Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.80 annualized dividend and a yield of 6.02%. Paramount Resources’s dividend payout ratio is 76.27%.

Insider Activity

In related news, Director Kimberley Elizabeth Lynch Proctor acquired 3,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was purchased at an average cost of C$31.36 per share, for a total transaction of C$94,080.00. Also, insider Brenda Gail Riddell bought 100,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was purchased at an average cost of C$31.30 per share, for a total transaction of C$3,129,630.00. Insiders own 45.36% of the company’s stock.

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.