National Bank Financial Downgrades Paramount Resources (TSE:POU) to Hold

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

A number of other research firms also recently weighed in on POU. CIBC cut their price target on Paramount Resources from C$39.50 to C$24.50 in a research note on Wednesday. Jefferies Financial Group decreased their target price on shares of Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Scotiabank cut their price target 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, BMO Capital Markets lowered their target price on shares of Paramount Resources from C$40.00 to C$25.00 in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Paramount Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of C$31.67.

Paramount Resources Trading Up 0.9 %

Paramount Resources stock opened at C$18.29 on Tuesday. Paramount Resources has a 12 month low of C$16.60 and a 12 month high of C$33.06. 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 P/E ratio of 7.49, a P/E/G ratio of 0.14 and a beta of 3.04. The company’s fifty day simple moving average is C$30.19 and its 200-day simple moving average is C$28.71.

Insider Buying and Selling

In other news, insider Brenda Gail Riddell acquired 100,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were bought at an average price of C$31.30 per share, with a total value of C$3,129,630.00. Also, Senior Officer Michael S. Han sold 8,320 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of C$30.86, for a total value of C$256,788.48. Over the last quarter, insiders have purchased 103,248 shares of company stock valued at $3,231,616. 45.36% of the stock is owned by company insiders.

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.