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

Paramount Resources Ltd. (TSE:POU) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$27.97 and traded as high as C$29.84. Paramount Resources shares last traded at C$29.66, with a volume of 151,482 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. National Bank Financial boosted 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. Royal Bank Of Canada raised their price target on shares of Paramount Resources from C$32.00 to C$35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 13th. Scotiabank raised shares of Paramount Resources to a “hold” rating in a research note on Friday, June 26th. Finally, Raymond James Financial lifted their price target on shares of Paramount Resources from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$32.94.

Paramount Resources Price Performance

The company has a market capitalization of C$4.42 billion, a price-to-earnings ratio of 75.75, a P/E/G ratio of 0.14 and a beta of -0.24. The company has a fifty day simple moving average of C$29.51 and a two-hundred day simple moving average of C$28.01. 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 posted its quarterly earnings data on Tuesday, May 12th. The company reported C$0.36 earnings per share (EPS) for the quarter. The business had revenue of C$276.20 million for the quarter. Paramount Resources had a return on equity of 1.96% and a net margin of 5.90%. As a group, research 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 declared a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 31st will be paid a $0.05 dividend. This represents a c) dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, July 17th. Paramount Resources’s dividend payout ratio (DPR) is presently 150.00%.

Insider Transactions at Paramount Resources

In other news, insider Tyson Riddell sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of C$31.36, for a total transaction 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, insider David Blake Reid sold 25,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of C$30.90, for a total transaction of C$772,500.00. Following the transaction, the insider owned 172,313 shares in the company, valued at approximately C$5,324,471.70. The trade was a 12.67% decrease in their ownership of the stock. In the last quarter, insiders acquired 10,148 shares of company stock worth $308,401 and sold 44,800 shares worth $1,388,875. Corporate 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”.