Paramount Resources (TSE:POU) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

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

A number of other brokerages have also commented on POU. Royal Bank of Canada increased their price objective on Paramount Resources from C$34.00 to C$37.00 in a research report on Friday, November 15th. CIBC raised their target price on shares of Paramount Resources from C$38.00 to C$39.50 in a research note on Friday, November 15th. Cibc World Mkts raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Scotiabank lifted their target price on shares of Paramount Resources from C$43.00 to C$44.00 in a report on Friday, November 15th. Finally, Cormark raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Paramount Resources presently has an average rating of “Moderate Buy” and a consensus target price of C$38.40.

Paramount Resources Price Performance

Shares of POU stock opened at C$29.46 on Monday. Paramount Resources has a 52 week low of C$24.51 and a 52 week high of C$33.06. The stock has a market capitalization of C$4.32 billion, a PE ratio of 12.48, a PEG ratio of 0.14 and a beta of 3.04. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.75. The stock’s fifty day moving average is C$28.85 and its 200-day moving average is C$29.03.

Paramount Resources Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.15 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.11%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Resources’s dividend payout ratio is currently 76.27%.

Insider Buying and Selling at Paramount Resources

In other news, Senior Officer David Blake Reid sold 68,000 shares of Paramount Resources stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of C$30.90, for a total value of C$2,101,200.00. Also, Senior Officer Garth W.J. Stotts sold 12,000 shares of Paramount Resources stock in a transaction on Monday, November 18th. The shares were sold at an average price of C$31.02, for a total transaction of C$372,183.60. 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.