Paramount Resources (TSE:POU) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Shares of Paramount Resources Ltd. (TSE:POU) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$27.78 and traded as high as C$29.29. Paramount Resources shares last traded at C$28.85, with a volume of 162,900 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on POU shares. Royal Bank Of Canada boosted their price target on shares of 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. Raymond James Financial upped their price target on shares of Paramount Resources from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. National Bank Financial increased their price objective on Paramount Resources from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 13th. Finally, Scotiabank raised Paramount Resources to a “hold” rating in a research report on Friday, June 26th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$32.94.

Paramount Resources Trading Up 1.1%

The company has a 50 day moving average of C$29.65 and a 200 day moving average of C$27.78. The firm has a market cap of C$4.21 billion, a P/E ratio of 72.12, a PEG ratio of 0.14 and a beta of -0.24. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 2.57.

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

Paramount Resources Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 31st will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, July 17th. This represents a c) annualized dividend and a dividend yield of 2.1%. Paramount Resources’s dividend payout ratio is 150.00%.

Insider Buying and Selling at Paramount Resources

In other Paramount Resources news, insider Rodrigo Sousa purchased 6,946 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average price of C$30.50 per share, for a total transaction of C$211,853.00. Following the acquisition, the insider 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. Also, insider Joerg Wittenberg sold 3,900 shares of Paramount Resources stock in a transaction on Thursday, May 21st. The shares were sold at an average price of C$33.28, for a total transaction of C$129,792.00. Following the completion of the sale, the insider directly owned 54,321 shares of the company’s stock, valued at approximately C$1,807,802.88. The trade was a 6.70% decrease in their position. In the last ninety days, insiders have purchased 10,148 shares of company stock worth $308,401 and have sold 44,800 shares worth $1,388,875. Company insiders own 45.36% of the company’s stock.

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”.