Paramount Resources (TSE:POU) Shares Cross Above 200-Day Moving Average – Should You Sell?

Paramount Resources Ltd. (TSE:POU) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$19.35 and traded as high as C$20.48. Paramount Resources shares last traded at C$20.34, with a volume of 160,786 shares.

Analysts Set New Price Targets

POU has been the topic of a number of recent research reports. Jefferies Financial Group upped their price objective on shares of Paramount Resources from C$21.00 to C$25.00 in a report on Wednesday, July 23rd. Royal Bank Of Canada upped their price objective on shares of Paramount Resources from C$21.00 to C$23.00 and gave the stock a “sector perform” rating in a report on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Paramount Resources currently has a consensus rating of “Moderate Buy” and an average price target of C$24.33.

Paramount Resources Trading Down 0.1%

The stock’s fifty day moving average price is C$21.04 and its 200 day moving average price is C$19.35. The company has a quick ratio of 0.68, a current ratio of 0.62 and a debt-to-equity ratio of 2.06. The stock has a market cap of C$3.03 billion, a PE ratio of 8.33, a PEG ratio of 0.14 and a beta of 3.04.

Paramount Resources Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, August 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. Paramount Resources’s dividend payout ratio is presently 73.70%.

Insider Activity at Paramount Resources

In other news, Senior Officer Rodrigo Sousa sold 43,535 shares of the 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. 45.36% of the stock is currently owned by insiders.

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.