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

Shares of Paramount Resources Ltd. (TSE:POU) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$23.04 and traded as high as C$26.49. Paramount Resources shares last traded at C$26.20, with a volume of 127,515 shares.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on POU shares. Raymond James Financial upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Thursday, January 15th. Jefferies Financial Group dropped their target price on shares of Paramount Resources from C$29.00 to C$28.00 in a research note on Tuesday, January 20th. Finally, Scotiabank increased their price target 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. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Paramount Resources has a consensus rating of “Moderate Buy” and a consensus target price of C$27.58.

Paramount Resources Price Performance

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 company has a market capitalization of C$3.76 billion, a price-to-earnings ratio of 2.79, a price-to-earnings-growth ratio of 0.14 and a beta of 0.19. The company has a 50-day moving average price of C$24.46 and a 200-day moving average price of C$23.04.

Paramount Resources Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 27th will be given a dividend of $0.05 per share. This represents a c) dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, February 13th. Paramount Resources’s dividend payout ratio (DPR) is currently 9.58%.

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”.