Paramount Resources (TSE:POU) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Paramount Resources Ltd. (TSE:POU)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$22.36 and traded as high as C$23.96. Paramount Resources shares last traded at C$23.41, with a volume of 253,711 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Royal Bank Of Canada increased their price target on Paramount Resources from C$23.00 to C$26.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 23rd. National Bankshares raised their target price on shares of Paramount Resources from C$25.00 to C$27.50 and gave the stock a “sector perform” rating in a research note on Thursday, September 25th. Raymond James Financial raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Thursday. Jefferies Financial Group increased their price target on shares of Paramount Resources from C$25.00 to C$28.00 in a report on Tuesday, October 21st. Finally, CIBC raised their price objective on shares of Paramount Resources from C$25.00 to C$26.00 in a research report on Wednesday, October 15th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$27.21.

Paramount Resources Price Performance

The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.68 and a current ratio of 0.62. The stock has a market capitalization of C$3.42 billion, a PE ratio of 2.54, a P/E/G ratio of 0.14 and a beta of 0.29. The company’s fifty day simple moving average is C$24.07 and its two-hundred day simple moving average is C$22.38.

Paramount Resources (TSE:POU) last released its quarterly earnings results on Tuesday, November 4th. The company reported C($0.02) EPS for the quarter. Paramount Resources had a net margin of 18.92% and a return on equity of 10.06%. The business had revenue of C$187.30 million during the quarter. As a group, sell-side analysts predict that Paramount Resources Ltd. will post 1.4075758 EPS for the current year.

Paramount Resources Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a c) annualized dividend and a yield of 2.5%. Paramount Resources’s dividend payout ratio (DPR) is presently 9.58%.

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”.