Paramount Resources (TSE:POU) Shares Pass Above 200-Day Moving Average – What’s Next?

Shares of Paramount Resources Ltd. (TSE:POU) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$22.71 and traded as high as C$25.20. Paramount Resources shares last traded at C$24.54, with a volume of 371,639 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Scotiabank boosted their target price on Paramount Resources from C$29.00 to C$31.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Raymond James Financial raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Thursday, January 15th. CIBC upped their price target on shares of Paramount Resources from C$25.00 to C$26.00 in a research report on Wednesday, October 15th. Finally, Jefferies Financial Group reduced their price objective on Paramount Resources from C$29.00 to C$28.00 in a research note on Tuesday, January 20th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of C$27.21.

Paramount Resources Stock Performance

The firm has a market cap of C$3.52 billion, a P/E ratio of 2.61, a price-to-earnings-growth ratio of 0.14 and a beta of 0.19. The company has a current ratio of 0.62, a quick ratio of 0.68 and a debt-to-equity ratio of 2.06. The business’s fifty day simple moving average is C$24.39 and its 200-day simple moving average is C$22.71.

Paramount Resources (TSE:POU) last issued its quarterly earnings data on Tuesday, November 4th. The company reported C($0.02) EPS for the quarter. The firm had revenue of C$187.30 million for the quarter. Paramount Resources had a net margin of 18.92% and a return on equity of 10.06%. As a group, sell-side analysts expect that Paramount Resources Ltd. will post 1.4075758 earnings per share for the current year.

Paramount Resources Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were issued a $0.05 dividend. The ex-dividend date was Monday, December 15th. This represents a c) annualized dividend and a yield of 2.4%. Paramount Resources’s dividend payout ratio (DPR) is 9.58%.

About Paramount Resources

Paramount is an independent, publicly traded Canadian energy company that explores for and develops both conventional and unconventional petroleum and natural gas, including longer-term strategic exploration and pre-development plays. The Company’s principal properties are located in Alberta and British Columbia. Paramount’s class A common shares are listed on the Toronto Stock Exchange under the symbol “POU”.