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

Paramount Resources Ltd. (TSE:POU)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$22.56 and traded as high as C$25.55. Paramount Resources shares last traded at C$25.43, with a volume of 153,329 shares traded.

Wall Street Analysts Forecast Growth

POU has been the subject of a number of research reports. CIBC lifted their price objective on Paramount Resources from C$25.00 to C$26.00 in a research report on Wednesday, October 15th. Jefferies Financial Group dropped their price objective on shares of Paramount Resources from C$29.00 to C$28.00 in a report on Tuesday, January 20th. Scotiabank increased their price objective on shares of Paramount Resources from C$29.00 to C$31.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Finally, Raymond James Financial raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Thursday, January 15th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$27.21.

Paramount Resources Stock Performance

The firm has a fifty day simple moving average of C$24.22 and a 200-day simple moving average of C$22.56. The company has a current ratio of 0.62, a quick ratio of 0.68 and a debt-to-equity ratio of 2.06. The stock has a market cap of C$3.65 billion, a price-to-earnings ratio of 2.71, a P/E/G ratio of 0.14 and a beta of 0.29.

Paramount Resources (TSE:POU) last issued its earnings results on Tuesday, November 4th. The company reported C($0.02) EPS for the quarter. Paramount Resources had a net margin of 18.92% and a return on equity of 10.06%. The firm had revenue of C$187.30 million during the quarter. Analysts forecast that Paramount Resources Ltd. will post 1.4075758 EPS for the current fiscal year.

Paramount Resources Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were issued a dividend of $0.05 per share. The ex-dividend date was Monday, December 15th. This represents a c) annualized dividend and a yield of 2.4%. Paramount Resources’s dividend payout ratio is presently 9.58%.

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”.