Paramount Resources (TSE:POU) Stock Crosses Above 200-Day Moving Average – Here’s Why

Paramount Resources Ltd. (TSE:POU) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$28.73 and traded as high as C$32.01. Paramount Resources shares last traded at C$31.90, with a volume of 123,551 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. ATB Cormark Capital Markets upped their price target on shares of Paramount Resources from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Scotia upped their target price on Paramount Resources from C$34.00 to C$36.00 and gave the stock a “sector perform” rating in a research note 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 price objective on shares of Paramount Resources from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Finally, National Bank Financial raised their target price on shares of Paramount Resources from C$36.00 to C$38.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$34.35.

Paramount Resources Stock Performance

The company has a market cap of C$4.65 billion, a P/E ratio of 40.90, a price-to-earnings-growth ratio of 0.14 and a beta of -0.25. 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 business has a 50 day moving average price of C$29.04 and a two-hundred day moving average price of C$28.73.

Paramount Resources (TSE:POU) last announced its quarterly earnings results on Thursday, August 6th. The company reported C$0.47 earnings per share (EPS) for the quarter. The company 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, sell-side analysts anticipate that Paramount Resources Ltd. will post 1.4075758 earnings per share for the current year.

Paramount Resources Announces Dividend

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

Insider Activity at Paramount Resources

In related news, Director James Geral Bell sold 2,050 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of C$27.17, for a total value of C$55,698.50. Also, insider Joerg Wittenberg sold 3,900 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of C$33.28, for a total transaction of C$129,792.00. Following the completion of the sale, the insider owned 54,321 shares of the company’s stock, valued at C$1,807,802.88. This trade represents a 6.70% decrease in their ownership of the stock. Insiders have sold a total of 14,800 shares of company stock worth $459,575 over the last quarter. Corporate insiders own 45.36% of the company’s stock.

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”.