Paramount Resources (TSE:POU) Stock Passes Above 200 Day Moving Average – Time to Sell?

Shares of Paramount Resources Ltd. (TSE:POU) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$26.83 and traded as high as C$31.10. Paramount Resources shares last traded at C$30.80, with a volume of 280,975 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. BMO Capital Markets lifted their price target 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. Royal Bank Of Canada boosted their price objective on Paramount Resources from C$32.00 to C$35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 13th. National Bank Financial boosted their price objective 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 boosted their price objective 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, Roth Mkm set a C$33.00 price objective on Paramount Resources and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$32.94.

Paramount Resources Trading Up 2.1%

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$4.48 billion, a price-to-earnings ratio of 77.00, a price-to-earnings-growth ratio of 0.14 and a beta of -0.03. The business has a 50 day simple moving average of C$29.62 and a 200 day simple moving average of C$26.83.

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

Paramount Resources Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.05 per share. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, June 15th. Paramount Resources’s dividend payout ratio is 150.00%.

Insider Buying and Selling at Paramount Resources

In other news, 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 transaction of C$772,500.00. Following the transaction, the insider owned 172,313 shares of the company’s stock, valued at C$5,324,471.70. This represents a 12.67% decrease in their ownership of the stock. Also, insider Rodrigo Sousa purchased 6,946 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average cost of C$30.50 per share, for a total transaction of C$211,853.00. Following the purchase, the insider directly owned 25,100 shares of the company’s stock, valued at C$765,550. This trade represents a 38.26% increase in their ownership of the stock. Over the last ninety days, insiders have acquired 9,688 shares of company stock valued at $295,917 and have sold 51,900 shares valued at $1,605,232. 45.36% of the stock is owned by 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”.