Paramount Resources (TSE:POU) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

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$20.75 and traded as high as C$21.82. Paramount Resources shares last traded at C$21.72, with a volume of 303,155 shares changing hands.

Analyst Upgrades and Downgrades

POU has been the topic of several recent analyst reports. Raymond James Financial set a C$20.00 target price on shares of Paramount Resources and gave the company a “market perform” rating in a report on Tuesday, April 8th. CIBC decreased their target price on shares of Paramount Resources from C$24.50 to C$22.00 in a report on Thursday, April 10th. Jefferies Financial Group raised their target price on shares of Paramount Resources from C$21.00 to C$25.00 in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada raised their target price on shares of Paramount Resources from C$21.00 to C$23.00 and gave the company a “sector perform” rating in a report on Monday, June 30th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$24.33.

Paramount Resources Stock Up 2.1%

The company has a market capitalization of C$3.23 billion, a P/E ratio of 8.89, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.68 and a current ratio of 0.62. The firm’s fifty day moving average is C$20.99 and its 200-day moving average is C$20.75.

Paramount Resources Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 31st will be issued a dividend of $0.05 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Tuesday, July 15th. Paramount Resources’s dividend payout ratio (DPR) is presently 73.70%.

Insider Activity at Paramount Resources

In related news, Senior Officer Garth W.J. Stotts sold 5,122 shares of Paramount Resources stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of C$19.16, for a total transaction of C$98,130.35. Also, Senior Officer Rodrigo Sousa sold 43,535 shares of Paramount Resources stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of C$21.85, for a total transaction of C$951,239.75. Insiders own 45.36% of the company’s stock.

About Paramount Resources

Paramount Resources Ltd is a Canadian energy company that explores, develops, produces, and markets natural gas, crude oil, and natural gas liquids. The company takes part in exploration and production in Alberta and British Columbia. Sales for Paramount’s products are priced in a multitude of markets that span the United States and Canada.