Paramount Resources (TSE:POU) Shares Cross Below 200-Day Moving Average – Time to Sell?

Paramount Resources Ltd. (TSE:POU)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$27.50 and traded as low as C$27.14. Paramount Resources shares last traded at C$27.14, with a volume of 229,916 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. National Bank Financial increased their target price on shares of 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. Canadian Imperial Bank of Commerce lifted their price target on shares of Paramount Resources from C$25.50 to C$30.50 in a research note on Wednesday, March 4th. BMO Capital Markets upped their price objective on shares of Paramount Resources from C$24.00 to C$32.00 and gave the company an “outperform” rating in a report on Wednesday, March 4th. Scotiabank raised shares of Paramount Resources to a “hold” rating in a research report on Friday, June 26th. Finally, Raymond James Financial raised their target price on Paramount Resources from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$32.94.

Paramount Resources Price Performance

The stock has a market capitalization of C$3.95 billion, a price-to-earnings ratio of 67.85, a PEG ratio of 0.14 and a beta of -0.28. The business’s fifty day moving average price is C$29.82 and its 200-day moving average price is C$27.50. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.57 and a quick ratio of 0.68.

Paramount Resources (TSE:POU) last posted its earnings results on Tuesday, May 12th. The company reported C$0.36 EPS for the quarter. Paramount Resources had a net margin of 5.90% and a return on equity of 1.96%. The company had revenue of C$276.20 million during the quarter. On average, research analysts forecast that Paramount Resources Ltd. will post 1.4075758 EPS for the current year.

Paramount Resources Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.05 per share. This represents a c) dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Monday, June 15th. Paramount Resources’s payout ratio is currently 150.00%.

Insider Transactions at Paramount Resources

In related news, Director Dirk Jungé sold 8,850 shares of Paramount Resources stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of C$30.97, for a total transaction of C$274,084.50. Following the transaction, the director owned 57,915 shares of the company’s stock, valued at C$1,793,627.55. The trade was a 13.26% decrease in their ownership of the stock. Also, insider David Blake Reid sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of C$30.90, for a total value of C$772,500.00. Following the sale, the insider 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 quarter, insiders bought 9,688 shares of company stock valued at $295,917 and sold 42,750 shares valued at $1,333,176. 45.36% of the stock is owned by company insiders.

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”.