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

National Bank Financial cut shares of Paramount Resources (TSE:POU - Free Report) from a strong-buy rating to a hold rating in a report released on Tuesday morning,Zacks.com reports.

Several other equities research analysts have also commented on the company. BMO Capital Markets lowered their price objective on Paramount Resources from C$40.00 to C$25.00 in a research report on Wednesday. CIBC lowered their price objective on Paramount Resources from C$39.50 to C$24.50 in a research report on Wednesday. Cormark upgraded Paramount Resources from a "hold" rating to a "moderate buy" rating in a research report on Friday, November 15th. Scotiabank decreased their target price on Paramount Resources from C$46.00 to C$31.00 in a research report on Wednesday. Finally, Jefferies Financial Group decreased their target price on Paramount Resources from C$37.00 to C$35.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$31.67.

Paramount Resources Stock Performance

Paramount Resources stock traded down C$0.44 during mid-day trading on Tuesday, hitting 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 current ratio of 0.62, a quick ratio of 0.68 and a debt-to-equity ratio of 2.06. Paramount Resources has a 12-month low of C$16.60 and a 12-month high of C$33.06. The company's fifty day moving average is C$29.94 and its 200-day moving average is C$28.63. The company has a market capitalization of C$2.63 billion, a price-to-earnings ratio of 7.23, a P/E/G ratio of 0.14 and a beta of 3.04.

Paramount Resources Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 28th will be paid a $0.05 dividend. This represents a $0.60 annualized dividend and a yield of 3.40%. The ex-dividend date is Thursday, February 20th. Paramount Resources's dividend payout ratio is currently 73.70%.

Insider Activity at Paramount Resources

In related news, insider Brenda Gail Riddell bought 100,000 shares of the business's stock in a transaction on Monday, November 25th. The stock was acquired at an average cost 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 firm's stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of C$30.86, for a total value of C$256,788.48. 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.