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

Paramount Resources (TSE:POU) had its price target decreased by CIBC from C$24.50 to C$22.00 in a research note issued to investors on Thursday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 42.86% from the company’s previous close.

Several other equities analysts also recently issued reports on the company. Jefferies Financial Group cut their target price on Paramount Resources from C$35.00 to C$21.00 in a research report on Monday, February 24th. Raymond James set a C$20.00 target price on Paramount Resources and gave the stock a “market perform” rating in a report on Tuesday. Royal Bank of Canada dropped their target price on Paramount Resources from C$34.00 to C$19.00 in a research report on Tuesday, February 18th. BMO Capital Markets dropped their price objective on shares of Paramount Resources from C$40.00 to C$25.00 in a report on Wednesday, February 19th. Finally, National Bank Financial downgraded shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Paramount Resources presently has a consensus rating of “Moderate Buy” and an average target price of C$26.88.

Paramount Resources Stock Performance

Shares of Paramount Resources stock traded down C$1.05 during midday trading on Thursday, hitting C$15.40. The company had a trading volume of 434,028 shares, compared to its average volume of 958,081. The company has a fifty day simple moving average of C$20.13 and a 200 day simple moving average of C$25.99. The stock has a market cap of C$2.29 billion, a price-to-earnings ratio of 6.31, a PEG 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. Paramount Resources has a 12-month low of C$14.33 and a 12-month high of C$33.06.

Insider Activity

In other news, Director Dirk Jungé acquired 2,000 shares of the business’s stock in a transaction on Wednesday, April 9th. The stock was bought at an average cost of C$14.80 per share, for a total transaction of C$29,595.90. Also, Senior Officer Rodrigo Sousa bought 5,600 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of C$15.78 per share, for a total transaction of C$88,365.76. Insiders have acquired 10,848 shares of company stock worth $172,744 in the last quarter. Corporate insiders own 45.36% of the company’s stock.

Paramount Resources Company Profile

Paramount Resources Ltd is a Canadian energy company that explores, develops, produces, and markets natural gas, crude oil, and natural gas liquids. The company takes part in exploration and production in Alberta and British Columbia. Sales for Paramount’s products are priced in a multitude of markets that span the United States and Canada.