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

Paramount Resources (TSE:POU - Get Free Report) had its target price decreased by equities research analysts at CIBC from C$39.50 to C$24.50 in a research note issued on Wednesday,BayStreet.CA reports. CIBC's price target suggests a potential upside of 38.81% from the company's previous close.

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

Paramount Resources Trading Down 2.4 %

POU stock traded down C$0.44 during trading on Wednesday, reaching C$17.65. The company had a trading volume of 1,430,233 shares, compared to its average volume of 1,027,952. The company has a market cap of C$2.63 billion, a P/E ratio of 7.23, a PEG ratio of 0.14 and a beta of 3.04. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.62 and a quick ratio of 0.68. Paramount Resources has a 52 week low of C$16.60 and a 52 week high of C$33.06. The business has a 50 day moving average of C$29.94 and a 200 day moving average of C$28.63.

Insiders Place Their Bets

In other news, Senior Officer Michael S. Han sold 8,320 shares of the firm's stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of C$30.86, for a total transaction of C$256,788.48. Also, insider Brenda Gail Riddell acquired 100,000 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were purchased at an average price of C$31.30 per share, for a total transaction of C$3,129,630.00. 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.