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

Paramount Resources (TSE:POU) was downgraded by equities researchers at National Bank Financial from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts have also weighed in on the company. 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 upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 15th. Scotiabank reduced their price objective on Paramount Resources from C$46.00 to C$31.00 in a research note on Wednesday. BMO Capital Markets decreased their target price on Paramount Resources from C$40.00 to C$25.00 in a report on Wednesday. Finally, CIBC cut their price target on shares of Paramount Resources from C$39.50 to C$24.50 in a report on Wednesday. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$31.67.

Paramount Resources Stock Performance

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

Insiders Place Their Bets

In related news, insider Brenda Gail Riddell purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of C$31.30 per share, for a total transaction of C$3,129,630.00. Also, Director Kimberley Elizabeth Lynch Proctor acquired 3,000 shares of Paramount Resources stock in a transaction on Friday, November 22nd. The shares were bought at an average price of C$31.36 per share, for a total transaction of C$94,080.00. Insiders have bought 103,248 shares of company stock worth $3,231,616 in the last quarter. 45.36% of the stock is owned by corporate insiders.

Paramount Resources Company Profile

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.