CIBC Lowers Paramount Resources (TSE:POU) Price Target to C$24.50

Paramount Resources (TSE:POU) had its price target decreased by equities researchers at CIBC from C$39.50 to C$24.50 in a research note issued on Wednesday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 35.43% from the stock’s previous close.

Several other equities research analysts also recently weighed in on POU. Jefferies Financial Group lowered their target price on shares of Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Royal Bank of Canada cut their price objective on shares of Paramount Resources from C$34.00 to C$19.00 in a research note on Tuesday. Scotiabank decreased their price target on Paramount Resources from C$46.00 to C$31.00 in a report on Wednesday. Finally, Cormark raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$31.67.

Paramount Resources Stock Down 1.1 %

Paramount Resources stock opened at C$18.09 on Wednesday. Paramount Resources has a twelve month low of C$16.60 and a twelve month high of C$33.06. The business has a fifty day moving average of C$29.94 and a two-hundred day moving average of C$28.63. The firm has a market cap of C$2.69 billion, a P/E ratio of 7.41, a P/E/G 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.

Insider Buying and Selling

In other Paramount Resources news, Senior Officer Michael S. Han sold 8,320 shares of Paramount Resources stock in a transaction 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. Also, insider Brenda Gail Riddell acquired 100,000 shares of the business’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. 45.36% of the stock is currently owned by company 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.