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

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

A number of other brokerages have also weighed in on POU. CIBC reduced their price target on shares of Paramount Resources from C$39.50 to C$24.50 in a research note on Wednesday, February 19th. Cormark raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 15th. Scotiabank cut their target price on shares of Paramount Resources from C$46.00 to C$31.00 in a research note on Wednesday, February 19th. National Bank Financial lowered shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, BMO Capital Markets cut their target price on shares of Paramount Resources from C$40.00 to C$25.00 in a research note on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Paramount Resources has an average rating of “Moderate Buy” and an average target price of C$30.11.

Paramount Resources Trading Down 0.8 %

Shares of TSE:POU opened at C$16.99 on Monday. The company has a 50 day moving average of C$29.18 and a 200-day moving average of C$28.39. The firm has a market cap of C$2.53 billion, a P/E ratio of 6.96, a P/E/G ratio of 0.14 and a beta of 3.04. Paramount Resources has a twelve month low of C$16.60 and a twelve month high of C$33.06. The company has a current ratio of 0.62, a quick ratio of 0.68 and a debt-to-equity ratio of 2.06.

Paramount Resources Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 28th will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $0.60 annualized dividend and a dividend yield of 3.53%. Paramount Resources’s dividend payout ratio (DPR) is presently 73.70%.

Insider Activity at Paramount Resources

In other Paramount Resources news, Senior Officer Michael S. Han sold 8,320 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of C$30.86, for a total value of C$256,788.48. 45.36% of the stock is owned by insiders.

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.