Jefferies Financial Group Issues Positive Forecast for Paramount Resources (TSE:POU) Stock Price

Paramount Resources (TSE:POU - Get Free Report) had its price target hoisted by equities research analysts at Jefferies Financial Group from C$36.00 to C$37.00 in a research note issued on Monday,BayStreet.CA reports. Jefferies Financial Group's target price would suggest a potential upside of 23.79% from the stock's current price.

A number of other brokerages have also recently weighed in on POU. Scotiabank raised their price target on Paramount Resources from C$43.00 to C$44.00 in a research report on Friday, November 15th. CIBC lifted their target price on shares of Paramount Resources from C$38.00 to C$39.50 in a research report on Friday, November 15th. Cormark raised Paramount Resources from a "hold" rating to a "moderate buy" rating in a research report on Friday, November 15th. Royal Bank of Canada boosted their target price on shares of Paramount Resources from C$34.00 to C$37.00 in a research note on Friday, November 15th. Finally, 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. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Paramount Resources currently has an average rating of "Moderate Buy" and a consensus price target of C$38.40.

Paramount Resources Price Performance

Shares of POU traded down C$0.46 on Monday, reaching C$29.89. The stock had a trading volume of 737,129 shares, compared to its average volume of 315,230. Paramount Resources has a twelve month low of C$24.51 and a twelve month high of C$33.06. The firm has a market capitalization of C$4.38 billion, a PE ratio of 12.61, a PEG ratio of 0.14 and a beta of 3.04. The firm has a 50-day moving average of C$28.73 and a 200 day moving average of C$29.06. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 0.83.

Insider Activity

In other news, Director Kimberley Elizabeth Lynch Proctor bought 3,000 shares of the firm's stock in a transaction dated Friday, November 22nd. The stock was acquired at an average price of C$31.36 per share, for a total transaction of C$94,080.00. Also, insider Brenda Gail Riddell bought 100,000 shares of the company's stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of C$31.30 per share, with a total value of C$3,129,630.00. Corporate 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.