Paramount Resources (TSE:POU) Stock Breaks Below Two Hundred Day Moving Average – Time to Sell?

Paramount Resources Ltd. (TSE:POU – Get Free Report) shares crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of C$29.90 and traded as low as C$29.54. Paramount Resources shares last traded at C$29.63, with a volume of 224,885 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. ATB Cormark Capital Markets upped their price objective on shares of Paramount Resources from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Scotia lifted their price target on Paramount Resources from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. BMO Capital Markets upped their price target on Paramount Resources from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Royal Bank Of Canada increased their price target on Paramount Resources from C$35.00 to C$37.00 and gave the stock a “sector perform” rating in a research report on Friday, August 7th. Finally, Scotiabank raised Paramount Resources to a “hold” rating in a report on Friday, June 26th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$34.35.

Read Our Latest Stock Report on POU

Paramount Resources Trading Up 1.3%

The firm has a market cap of C$4.29 billion, a price-to-earnings ratio of 37.71, a price-to-earnings-growth ratio of 0.14 and a beta of -0.26. The company’s 50-day moving average price is C$31.04 and its 200-day moving average price is C$29.89. The company has a quick ratio of 0.68, a current ratio of 1.87 and a debt-to-equity ratio of 0.90.

Paramount Resources (TSE:POU – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported C$0.47 earnings per share for the quarter. The firm had revenue of C$317.90 million during the quarter. Paramount Resources had a net margin of 11.19% and a return on equity of 4.30%. Equities analysts expect that Paramount Resources Ltd. will post 1.4075758 EPS for the current fiscal year.

Paramount Resources Announces Dividend

The company also recently announced a monthly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.0%. Paramount Resources’s dividend payout ratio is presently 76.92%.

Insider Buying and Selling at Paramount Resources

In other news, Director James Geral Bell sold 2,050 shares of Paramount Resources stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of C$27.17, for a total value of C$55,698.50. 45.36% of the stock is currently owned by company insiders.

Paramount Resources Company Profile

(Get Free Report)

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”.

Further Reading

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