Jefferies Financial Group Cuts Paramount Resources (TSE:POU) Price Target to C$21.00

Paramount Resources (TSE:POU) had its price target lowered by Jefferies Financial Group from C$35.00 to C$21.00 in a report issued on Monday,BayStreet.CA reports.

Other research analysts have also issued research reports about the stock. Royal Bank of Canada dropped their price target on shares of Paramount Resources from C$34.00 to C$19.00 in a research note on Tuesday, February 18th. Scotiabank dropped their price target on shares of Paramount Resources from C$46.00 to C$31.00 in a research note on Wednesday, February 19th. Cormark upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 15th. CIBC dropped their price target on shares of Paramount Resources from C$39.50 to C$24.50 in a research note on Wednesday, February 19th. Finally, BMO Capital Markets decreased their price objective on shares of Paramount Resources from C$40.00 to C$25.00 in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$30.11.

Paramount Resources Stock Performance

Shares of POU opened at C$16.99 on Monday. The company’s fifty day moving average is C$29.18 and its 200-day moving average is C$28.39. Paramount Resources has a 12 month low of C$16.60 and a 12 month high of C$33.06. The firm has a market cap of C$2.53 billion, a price-to-earnings ratio of 6.96, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. The company has a quick ratio of 0.68, a current ratio of 0.62 and a debt-to-equity ratio of 2.06.

Paramount Resources Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 28th will be given a $0.05 dividend. The ex-dividend date is Thursday, February 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.53%. Paramount Resources’s dividend payout ratio is currently 73.70%.

Insiders Place Their Bets

In other Paramount Resources news, Senior Officer Michael S. Han sold 8,320 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of C$30.86, for a total value of C$256,788.48. 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.