Paramount Resources (TSE:POU) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Paramount Resources Ltd. (TSE:POU) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$24.53 and traded as high as C$30.50. Paramount Resources shares last traded at C$30.16, with a volume of 299,174 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have issued reports on POU shares. ATB Cormark Capital Markets upped their target price on shares of Paramount Resources from C$28.00 to C$33.00 and gave the company an “outperform” rating in a report on Wednesday, March 4th. Jefferies Financial Group cut their price objective on shares of Paramount Resources from C$29.00 to C$28.00 in a research report on Tuesday, January 20th. Roth Mkm set a C$33.00 price objective on shares of Paramount Resources and gave the company a “buy” rating in a research note on Wednesday, March 4th. National Bank Financial raised their target price on shares of Paramount Resources from C$32.00 to C$32.50 and gave the stock a “sector perform” rating in a research report on Wednesday, March 4th. Finally, Raymond James Financial lifted their target price on shares of Paramount Resources from C$29.00 to C$31.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 4th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$31.22.

Paramount Resources Trading Up 1.6%

The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.68 and a current ratio of 3.77. The firm has a market capitalization of C$4.36 billion, a price-to-earnings ratio of 3.44, a P/E/G ratio of 0.14 and a beta of 0.14. The business has a fifty day moving average price of C$27.04 and a 200 day moving average price of C$24.53.

Paramount Resources (TSE:POU) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported C($0.03) earnings per share (EPS) for the quarter. The firm had revenue of C$262.50 million for the quarter. Paramount Resources had a net margin of 129.11% and a return on equity of 48.07%. As a group, equities analysts forecast that Paramount Resources Ltd. will post 1.4075758 earnings per share for the current year.

Paramount Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st will be paid a $0.05 dividend. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, March 16th. Paramount Resources’s payout ratio is currently 6.83%.

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”.