Paramount Resources (TSE:POU) Price Target Cut to C$29.00

Paramount Resources (TSE:POU) had its price target lowered by equities research analysts at Jefferies Financial Group from C$36.00 to C$29.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective points to a potential upside of 14.85% from the stock’s previous close.

Several other brokerages have also recently issued reports on POU. BMO Capital Markets increased their price objective on Paramount Resources from C$38.50 to C$40.00 in a research note on Wednesday, July 3rd. CIBC upped their price objective on shares of Paramount Resources from C$37.00 to C$38.00 in a research note on Monday, July 15th. Finally, Scotiabank increased their target price on shares of Paramount Resources from C$42.00 to C$43.00 in a report on Friday, July 12th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$37.25.

Paramount Resources Price Performance

Shares of Paramount Resources stock traded down C$0.45 during trading hours on Monday, reaching C$25.25. The company’s stock had a trading volume of 294,234 shares, compared to its average volume of 242,239. The firm has a 50 day moving average price of C$28.52 and a 200-day moving average price of C$29.60. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.75 and a quick ratio of 0.68. The stock has a market cap of C$3.70 billion, a P/E ratio of 10.64, a P/E/G ratio of 0.14 and a beta of 3.06. Paramount Resources has a one year low of C$24.51 and a one year high of C$33.80.

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

Insiders Place Their Bets

In other Paramount Resources news, Senior Officer Bernard K. Lee sold 5,000 shares of the firm’s stock in a transaction on 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 firm’s stock in a transaction dated Monday, June 24th. The stock was 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 company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of C$30.94, for a total value of C$154,721.00. Corporate 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.