Paramount Resources (TSE:POU) Downgraded by National Bank Financial to “Hold”

Paramount Resources (TSE:POU) was downgraded by National Bank Financial from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Several other brokerages have also recently issued reports on POU. Scotiabank lowered their target price on shares of Paramount Resources from C$46.00 to C$31.00 in a report on Wednesday. BMO Capital Markets decreased their price objective on shares of Paramount Resources from C$40.00 to C$25.00 in a research note on Wednesday. Royal Bank of Canada cut their target price on Paramount Resources from C$34.00 to C$19.00 in a research report on Tuesday. Cormark raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. Finally, CIBC reduced their price objective on Paramount Resources from C$39.50 to C$24.50 in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$31.67.

Paramount Resources Price Performance

POU stock opened at C$18.29 on Tuesday. The business has a 50 day moving average price of C$30.19 and a 200 day moving average price of C$28.71. The company has a quick ratio of 0.68, a current ratio of 0.62 and a debt-to-equity ratio of 2.06. The stock has a market cap of C$2.72 billion, a price-to-earnings ratio of 7.49, a PEG ratio of 0.14 and a beta of 3.04. Paramount Resources has a fifty-two week low of C$16.60 and a fifty-two week high of C$33.06.

Insider Transactions at Paramount Resources

In other news, insider Brenda Gail Riddell acquired 100,000 shares of Paramount Resources stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average price of C$31.30 per share, with a total value of C$3,129,630.00. Also, Director Kimberley Elizabeth Lynch Proctor bought 3,000 shares of the stock in a transaction on Friday, November 22nd. The stock was purchased at an average cost of C$31.36 per share, with a total value of C$94,080.00. Insiders acquired a total of 103,248 shares of company stock valued at $3,231,616 in the last ninety days. Corporate 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.