Paramount Resources (TSE:POU) Reaches New 12-Month Low Following Analyst Downgrade

Paramount Resources Ltd. (TSE:POU - Get Free Report) shares reached a new 52-week low on Tuesday after National Bank Financial downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as C$16.60 and last traded at C$17.07, with a volume of 226184 shares traded. The stock had previously closed at C$31.75.

POU has been the subject of several other reports. Royal Bank of Canada dropped their price objective on Paramount Resources from C$34.00 to C$19.00 in a report on Tuesday. Scotiabank decreased their price target on Paramount Resources from C$46.00 to C$31.00 in a research report on Wednesday. Cormark raised Paramount Resources from a "hold" rating to a "moderate buy" rating in a research note on Friday, November 15th. BMO Capital Markets reduced their price objective on shares of Paramount Resources from C$40.00 to C$25.00 in a research note on Wednesday. Finally, Jefferies Financial Group dropped 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. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of C$31.67.

Insider Activity

In other news, Senior Officer Michael S. Han sold 8,320 shares of the 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. Also, insider Brenda Gail Riddell acquired 100,000 shares of the business's stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average cost of C$31.30 per share, for a total transaction of C$3,129,630.00. 45.36% of the stock is currently owned by corporate insiders.

Paramount Resources Stock Performance

The company has a fifty day moving average price of C$29.94 and a two-hundred day moving average price of C$28.63. 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 company has a market capitalization of C$2.63 billion, a P/E ratio of 7.23, a PEG ratio of 0.14 and a beta of 3.04.

Paramount Resources Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 28th will be given a $0.05 dividend. This represents a $0.60 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Thursday, February 20th. Paramount Resources's dividend payout ratio (DPR) is currently 73.70%.

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.