CIBC Has Lowered Expectations for Paramount Resources (TSE:POU) Stock Price

Paramount Resources (TSE:POU) had its price target reduced by research analysts at CIBC from C$39.50 to C$24.50 in a research note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s price objective suggests a potential upside of 34.76% from the company’s current price.

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

Paramount Resources Stock Up 0.3 %

POU stock traded up C$0.05 during trading on Wednesday, reaching C$18.18. The stock had a trading volume of 736,768 shares, compared to its average volume of 962,645. The firm has a fifty day moving average price of C$30.70 and a 200 day moving average price of C$28.86. The company has a current ratio of 0.62, a quick ratio of 0.68 and a debt-to-equity ratio of 2.06. The company has a market capitalization of C$2.71 billion, a P/E ratio of 7.44, a PEG ratio of 0.14 and a beta of 3.04. Paramount Resources has a 1-year low of C$16.60 and a 1-year high of C$33.06.

Insider Buying and Selling at Paramount Resources

In other news, insider Brenda Gail Riddell bought 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average cost of C$31.30 per share, for a total transaction of C$3,129,630.00. Also, Senior Officer Michael S. Han sold 8,320 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of C$30.86, for a total transaction of C$256,788.48. Over the last 90 days, insiders have purchased 103,248 shares of company stock valued at $3,231,616. 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.