Paramount Resources (TSE:POU) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Paramount Resources Ltd. (TSE:POU) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$29.36 and traded as high as C$32.03. Paramount Resources shares last traded at C$31.68, with a volume of 232,830 shares trading hands.

Analyst Upgrades and Downgrades

POU has been the topic of several research analyst reports. ATB Cormark Capital Markets boosted their price target on Paramount Resources from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Royal Bank Of Canada lifted their price objective on Paramount Resources from C$35.00 to C$37.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. Scotiabank upgraded Paramount Resources to a “hold” rating in a research report on Friday, June 26th. Raymond James Financial upped their target price on Paramount Resources from C$34.00 to C$36.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Finally, National Bank Financial lifted their price target on Paramount Resources from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$34.35.

Paramount Resources Stock Performance

The company has a current ratio of 1.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.90. The stock’s 50 day moving average price is C$29.93 and its two-hundred day moving average price is C$29.40. The firm has a market capitalization of C$4.55 billion, a PE ratio of 39.97, a PEG ratio of 0.14 and a beta of -0.26.

Paramount Resources (TSE:POU) last posted its earnings results on Thursday, August 6th. The company reported C$0.47 earnings per share (EPS) for the quarter. The firm had revenue of C$317.90 million for the quarter. Paramount Resources had a return on equity of 4.30% and a net margin of 11.19%. On average, equities analysts expect that Paramount Resources Ltd. will post 1.4075758 earnings per share for the current year.

Paramount Resources Dividend Announcement

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

Insider Activity at Paramount Resources

In related news, Director James Geral Bell sold 2,050 shares of Paramount Resources stock in a transaction dated 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 currently owned by 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”.