CIBC Cuts Paramount Resources (TSE:POU) Price Target to C$22.00

Paramount Resources (TSE:POU) had its target price cut by CIBC from C$24.50 to C$22.00 in a report published on Thursday morning,BayStreet.CA reports.

POU has been the subject of several other research reports. Royal Bank of Canada reduced their price objective on shares of Paramount Resources from C$34.00 to C$19.00 in a research note on Tuesday, February 18th. Raymond James set a C$20.00 price target on Paramount Resources and gave the stock a “market perform” rating in a research report on Tuesday, April 8th. BMO Capital Markets lowered their price objective on Paramount Resources from C$40.00 to C$25.00 in a research report on Wednesday, February 19th. National Bank Financial lowered Paramount Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Finally, Scotiabank decreased their price target on 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 assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$26.88.

Paramount Resources Price Performance

POU opened at C$15.94 on Thursday. The firm has a market capitalization of C$2.37 billion, a PE ratio of 6.53, a price-to-earnings-growth 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. The business’s 50-day moving average is C$19.58 and its two-hundred day moving average is C$25.85. Paramount Resources has a 1 year low of C$14.33 and a 1 year high of C$33.06.

Paramount Resources Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $0.05 per share. This represents a $0.60 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Tuesday, April 15th. Paramount Resources’s payout ratio is 73.70%.

Insider Activity

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