Paramount Resources (TSE:POU) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Paramount Resources Ltd. (TSE:POU) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$29.60 and traded as high as C$32.00. Paramount Resources shares last traded at C$31.65, with a volume of 270,731 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently commented on POU shares. Royal Bank Of Canada upped their price target on shares of Paramount Resources from C$35.00 to C$37.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. ATB Cormark Capital Markets increased their target price on Paramount Resources from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Scotia raised their price target on Paramount Resources from C$34.00 to C$36.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. BMO Capital Markets lifted their price target 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, Scotiabank upgraded Paramount Resources to a “hold” rating in a research note on Friday, June 26th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$34.35.

Paramount Resources Trading Up 1.0%

The firm’s 50 day moving average is C$30.44 and its 200 day moving average is C$29.62. The company has a market cap of C$4.66 billion, a PE ratio of 40.97, a PEG ratio of 0.14 and a beta of -0.26. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.87 and a quick ratio of 0.68.

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

Paramount Resources Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th will be given a dividend of $0.05 per share. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date is Tuesday, September 15th. Paramount Resources’s payout ratio is presently 76.92%.

Insider Buying and Selling at Paramount Resources

In other Paramount Resources news, Director James Geral Bell sold 2,050 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of C$27.17, for a total value of C$55,698.50. 45.36% of the stock is currently owned by insiders.

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”.