Paramount Resources (TSE:POU) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Paramount Resources Ltd. (TSE:POU) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$29.05 and traded as high as C$32.79. Paramount Resources shares last traded at C$32.35, with a volume of 211,769 shares.

Wall Street Analyst Weigh In

POU has been the subject of several research reports. BMO Capital Markets increased their price objective on shares of Paramount Resources from C$35.00 to C$37.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Scotiabank upgraded shares of Paramount Resources to a “hold” rating in a report on Friday, June 26th. Scotia boosted their target price on shares of Paramount Resources from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. ATB Cormark Capital Markets lifted their target price on Paramount Resources from C$35.00 to C$37.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Finally, National Bank Financial upped their price target on shares of Paramount Resources from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Paramount Resources currently has an average rating of “Moderate Buy” and an average price target of C$34.35.

Paramount Resources Trading Up 1.0%

The company has a 50 day simple moving average of C$29.42 and a two-hundred day simple moving average of C$29.10. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.68 and a current ratio of 1.87. The firm has a market cap of C$4.64 billion, a PE ratio of 40.78, a P/E/G ratio of 0.14 and a beta of -0.25.

Paramount Resources (TSE:POU) last released its quarterly earnings data on Thursday, August 6th. The company reported C$0.47 earnings per share for the quarter. The business had revenue of C$317.90 million during the quarter. Paramount Resources had a return on equity of 4.30% and a net margin of 11.19%. Analysts expect that Paramount Resources Ltd. will post 1.4075758 EPS for the current fiscal year.

Paramount Resources Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 31st will be given a $0.05 dividend. The ex-dividend date is Monday, August 17th. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%. Paramount Resources’s dividend payout ratio is 76.92%.

Insiders Place Their Bets

In other Paramount Resources news, Director Dirk Jungé sold 8,850 shares of Paramount Resources stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of C$30.97, for a total value of C$274,084.50. Following the sale, the director owned 57,915 shares in the company, valued at C$1,793,627.55. The trade was a 13.26% decrease in their ownership of the stock. Also, Director James Geral Bell sold 2,050 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of C$27.17, for a total transaction of C$55,698.50. 45.36% of the stock is owned by company insiders.

Paramount Resources Company Profile

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”.