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

Paramount Resources (TSE:POU) had its target price decreased by Jefferies Financial Group from C$36.00 to C$29.00 in a research report report published on Monday, BayStreet.CA reports. Jefferies Financial Group currently has a buy rating on the stock.

Several other brokerages have also weighed in on POU. BMO Capital Markets raised their target price on Paramount Resources from C$38.50 to C$40.00 in a research report on Wednesday, July 3rd. Scotiabank increased their price objective on Paramount Resources from C$42.00 to C$43.00 in a report on Friday, July 12th. Finally, CIBC increased their price target on shares of Paramount Resources from C$37.00 to C$38.00 in a research note 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 MarketBeat.com, Paramount Resources currently has a consensus rating of Moderate Buy and an average price target of C$37.25.

Paramount Resources Trading Down 0.7 %

Shares of TSE:POU opened at C$25.36 on Monday. Paramount Resources has a 52 week low of C$24.51 and a 52 week high of C$33.80. The company’s 50 day moving average is C$28.29 and its two-hundred day moving average is C$29.54. The company has a market cap of C$3.72 billion, a PE ratio of 10.98, a P/E/G ratio of 0.14 and a beta of 3.06. 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 (TSE:POU) last posted its earnings results on Thursday, August 1st. The company reported C$0.57 EPS for the quarter. Paramount Resources had a return on equity of 10.03% and a net margin of 19.66%. The firm had revenue of C$443.60 million for the quarter, compared to analyst estimates of C$468.00 million.

Paramount Resources Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be given a dividend of $0.15 per share. The ex-dividend date is Monday, September 16th. This represents a $1.80 dividend on an annualized basis and a yield of 7.10%. Paramount Resources’s payout ratio is currently 77.92%.

Insider Transactions at Paramount Resources

In related news, Senior Officer John B. Williams sold 11,929 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of C$31.00, for a total transaction of C$369,799.00. 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.