Paramount Resources (TSE:POU) Share Price Passes Below 200 Day Moving Average – Time to Sell?

Paramount Resources Ltd. (TSE:POU)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$27.50 and traded as low as C$27.14. Paramount Resources shares last traded at C$27.14, with a volume of 229,916 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. ATB Cormark Capital Markets increased their price target on shares of Paramount Resources from C$28.00 to C$33.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 4th. Royal Bank Of Canada boosted their price objective on shares of Paramount Resources from C$32.00 to C$35.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 13th. Scotiabank upgraded Paramount Resources to a “hold” rating in a research note on Friday, June 26th. Raymond James Financial lifted their price target on Paramount Resources from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, National Bank Financial boosted their price target on Paramount Resources from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Paramount Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of C$32.94.

Paramount Resources Stock Up 0.4%

The firm’s fifty day moving average is C$29.83 and its 200-day moving average is C$27.53. The company has a market capitalization of C$3.96 billion, a P/E ratio of 68.12, a price-to-earnings-growth ratio of 0.14 and a beta of -0.28. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 2.57.

Paramount Resources (TSE:POU) last issued its quarterly earnings data on Tuesday, May 12th. The company reported C$0.36 EPS for the quarter. The business had revenue of C$276.20 million during the quarter. Paramount Resources had a net margin of 5.90% and a return on equity of 1.96%. As a group, equities research analysts predict that Paramount Resources Ltd. will post 1.4075758 EPS for the current year.

Paramount Resources Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a $0.05 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Monday, June 15th. Paramount Resources’s dividend payout ratio is presently 150.00%.

Insider Activity at Paramount Resources

In other Paramount Resources news, insider Tyson Riddell sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of C$31.36, for a total value of C$156,800.00. Following the completion of the transaction, the insider owned 14,458 shares of the company’s stock, valued at C$453,402.88. This represents a 25.70% decrease in their position. Also, Director Dirk Jungé sold 8,850 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of C$30.97, for a total transaction of C$274,084.50. Following the transaction, the director directly owned 57,915 shares of the company’s stock, valued at C$1,793,627.55. The trade was a 13.26% decrease in their position. Over the last 90 days, insiders have acquired 10,148 shares of company stock worth $308,401 and have sold 44,800 shares worth $1,388,875. Insiders own 45.36% of the company’s stock.

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”.