Jefferies Financial Group Cuts Paramount Resources (TSE:POU) Price Target to C$29.00

Paramount Resources (TSE:POU) had its price target reduced by equities researchers at Jefferies Financial Group from C$36.00 to C$29.00 in a note issued to investors on Monday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective points to a potential upside of 14.85% from the company’s current price.

POU has been the subject of several other reports. BMO Capital Markets upped their target price on shares of Paramount Resources from C$38.50 to C$40.00 in a research report on Wednesday, July 3rd. Scotiabank upped their price objective on Paramount Resources from C$42.00 to C$43.00 in a report on Friday, July 12th. Finally, CIBC raised their price objective on Paramount Resources from C$37.00 to C$38.00 in a report on Monday, July 15th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$37.25.

Paramount Resources Price Performance

Shares of POU traded down C$0.45 during trading hours on Monday, reaching C$25.25. 294,234 shares of the company’s stock traded hands, compared to its average volume of 242,239. 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 firm’s 50 day simple moving average is C$28.52 and its 200-day simple moving average is C$29.60. The stock has a market cap of C$3.70 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 0.14 and a beta of 3.06. Paramount Resources has a 12 month low of C$24.51 and a 12 month high of C$33.80.

Paramount Resources (TSE:POU) last announced its earnings results on Thursday, August 1st. The company reported C$0.57 earnings per share (EPS) for the quarter. Paramount Resources had a net margin of 19.66% and a return on equity of 10.03%. The business had revenue of C$443.60 million during the quarter, compared to analyst estimates of C$468.00 million. Equities analysts expect that Paramount Resources will post 1.3419192 EPS for the current year.

Insider Transactions at Paramount Resources

In other news, Senior Officer Bernard K. Lee sold 5,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of C$30.94, for a total value of C$154,721.00. In other news, Senior Officer John B. Williams sold 11,929 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$31.00, for a total value of C$369,799.00. Also, Senior Officer Bernard K. Lee sold 5,000 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of C$30.94, for a total value of C$154,721.00. Company 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.