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

National Bank Financial downgraded shares of Paramount Resources (TSE:POU) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the company. Jefferies Financial Group lowered their price objective on Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Royal Bank of Canada lowered their price objective on shares of Paramount Resources from C$34.00 to C$19.00 in a research report on Tuesday. Cormark raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. CIBC decreased their price target on Paramount Resources from C$39.50 to C$24.50 in a research note on Wednesday. Finally, BMO Capital Markets cut their price objective on Paramount Resources from C$40.00 to C$25.00 in a report on Wednesday. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$31.67.

Paramount Resources Trading Up 0.9 %

TSE POU 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 50-day moving average of C$30.19 and a 200-day moving average of C$28.71. The company 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 has a debt-to-equity ratio of 2.06, a current ratio of 0.62 and a quick ratio of 0.68.

Paramount Resources Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 28th will be given a $0.05 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Thursday, February 20th. Paramount Resources’s dividend payout ratio (DPR) is presently 73.70%.

Insider Transactions at Paramount Resources

In other Paramount Resources news, Senior Officer Michael S. Han sold 8,320 shares of Paramount Resources 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, Director Kimberley Elizabeth Lynch Proctor bought 3,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was purchased at an average cost of C$31.36 per share, for a total transaction of C$94,080.00. In the last three months, insiders acquired 103,248 shares of company stock worth $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.