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

Shares of Paramount Resources Ltd. (TSE:POU) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$27.17 and traded as high as C$30.37. Paramount Resources shares last traded at C$30.04, with a volume of 323,569 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on POU shares. Canadian Imperial Bank of Commerce lifted their price objective on Paramount Resources from C$25.50 to C$30.50 in a research note on Wednesday, March 4th. Royal Bank Of Canada boosted their price target on Paramount Resources from C$32.00 to C$35.00 and gave the company a “sector perform” rating in a report on Wednesday, May 13th. National Bank Financial upped their price target on Paramount Resources from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 13th. ATB Cormark Capital Markets upped their price target on Paramount Resources from C$28.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 4th. Finally, BMO Capital Markets increased their price target on Paramount Resources from C$24.00 to C$32.00 and gave the company an “outperform” rating in a report on Wednesday, March 4th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Paramount Resources has a consensus rating of “Moderate Buy” and an average target price of C$32.94.

Paramount Resources Trading Up 0.8%

The company has a debt-to-equity ratio of 0.89, a current ratio of 2.57 and a quick ratio of 0.68. The company has a market cap of C$4.37 billion, a PE ratio of 75.10, a price-to-earnings-growth ratio of 0.14 and a beta of -0.28. The company has a 50-day moving average of C$29.73 and a 200 day moving average of C$27.17.

Paramount Resources (TSE:POU) last announced its quarterly earnings data on Tuesday, May 12th. The company reported C$0.36 earnings per share (EPS) for the quarter. Paramount Resources had a net margin of 5.90% and a return on equity of 1.96%. The business had revenue of C$276.20 million during the quarter. Analysts predict that Paramount Resources Ltd. will post 1.4075758 earnings per share for the current year.

Paramount Resources Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 2.0%. Paramount Resources’s payout ratio is 150.00%.

Insider Buying and Selling

In related news, insider Tyson Riddell sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of C$31.36, for a total value 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. The trade was a 25.70% decrease in their ownership of the stock. Also, insider David Blake Reid sold 25,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 172,313 shares of the company’s stock, valued at C$5,324,471.70. This trade represents a 12.67% decrease in their position. Over the last ninety days, insiders have purchased 9,688 shares of company stock valued at $295,917 and have sold 60,750 shares valued at $1,879,317. 45.36% of the stock is currently owned by corporate insiders.

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”.