Paramount Resources (TSE:POU) Price Target Cut to C$22.00 by Analysts at CIBC

Paramount Resources (TSE:POU) had its target price reduced by CIBC from C$24.50 to C$22.00 in a research note issued to investors on Thursday morning,BayStreet.CA reports.

A number of other research firms have also weighed in on POU. National Bank Financial lowered shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. BMO Capital Markets lowered their price objective on Paramount Resources from C$40.00 to C$25.00 in a research note on Wednesday, February 19th. Jefferies Financial Group decreased their price target on Paramount Resources from C$35.00 to C$21.00 in a report on Monday, February 24th. Royal Bank of Canada dropped their price objective on shares of Paramount Resources from C$34.00 to C$19.00 in a research note on Tuesday, February 18th. Finally, Scotiabank reduced their target price on shares of Paramount Resources from C$46.00 to C$31.00 in a research note on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$26.88.

Paramount Resources Price Performance

Shares of Paramount Resources stock opened at C$15.44 on Thursday. The company has a current ratio of 0.62, a quick ratio of 0.68 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. The stock has a 50 day moving average of C$19.86 and a 200 day moving average of C$25.92. The firm has a market cap of C$2.30 billion, a PE ratio of 6.32, a PEG ratio of 0.14 and a beta of 3.04.

Paramount Resources Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 30th will be issued a $0.05 dividend. This represents a $0.60 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Tuesday, April 15th. Paramount Resources’s dividend payout ratio is currently 73.70%.

Insider Transactions at Paramount Resources

In related news, Director Dirk Jungé acquired 3,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were purchased at an average price of C$15.63 per share, for a total transaction of C$46,876.32. Also, Senior Officer Rodrigo Sousa acquired 5,600 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average cost of C$15.78 per share, with a total value of C$88,365.76. Over the last three months, insiders have acquired 10,600 shares of company stock valued at $164,838. Corporate insiders own 45.36% of the company’s stock.

About Paramount Resources

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.