Paramount Resources (TSE:POU) Price Target Cut to C$24.50 by Analysts at CIBC

Paramount Resources (TSE:POU) had its target price decreased by CIBC from C$39.50 to C$24.50 in a research report report published on Wednesday,BayStreet.CA reports.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada lowered their price target on shares of Paramount Resources from C$34.00 to C$19.00 in a report on Tuesday. Scotiabank dropped their target price on Paramount Resources from C$46.00 to C$31.00 in a report on Wednesday. Cormark raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. Finally, Jefferies Financial Group lowered their price target on Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$31.67.

Paramount Resources Price Performance

Paramount Resources stock opened at C$17.65 on Wednesday. Paramount Resources has a 52-week low of C$16.60 and a 52-week high of C$33.06. The company has a market cap of C$2.63 billion, a price-to-earnings ratio of 7.23, a PEG ratio of 0.14 and a beta of 3.04. The firm’s fifty day moving average is C$29.94 and its 200 day moving average is C$28.63. 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 Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 28th will be paid a $0.05 dividend. This represents a $0.60 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Thursday, February 20th. Paramount Resources’s dividend payout ratio is presently 73.70%.

Insider Buying and Selling at Paramount Resources

In other news, 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. Also, insider Brenda Gail Riddell bought 100,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were bought at an average cost of C$31.30 per share, for a total transaction of C$3,129,630.00. 45.36% of the stock is owned by corporate insiders.

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.