Paramount Resources (TSE:POU) Stock Passes Above 200-Day Moving Average – Here’s Why

Paramount Resources Ltd. (TSE:POU)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$28.93 and traded as high as C$29.51. Paramount Resources shares last traded at C$29.11, with a volume of 469,823 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on POU. Scotiabank lifted their price objective on Paramount Resources from C$44.00 to C$46.00 in a research report on Friday, January 17th. Cibc World Mkts raised Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. CIBC boosted their price target on Paramount Resources from C$38.00 to C$39.50 in a research report on Friday, November 15th. Royal Bank of Canada boosted their price target on Paramount Resources from C$34.00 to C$37.00 in a research report on Friday, November 15th. Finally, Jefferies Financial Group lowered their price target on Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Paramount Resources has a consensus rating of “Moderate Buy” and an average price target of C$38.67.

Paramount Resources Stock Performance

The stock has a 50 day simple moving average of C$30.78 and a 200 day simple moving average of C$28.91. The company has a market cap of C$4.27 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 0.14 and a beta of 3.04. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 0.83.

Paramount Resources (TSE:POU) last issued its quarterly earnings data on Thursday, November 7th. The company reported C$0.64 EPS for the quarter, missing analysts’ consensus estimates of C$0.92 by C($0.28). Paramount Resources had a return on equity of 10.03% and a net margin of 19.66%. As a group, analysts predict that Paramount Resources Ltd. will post 1.4075758 EPS for the current year.

Paramount Resources Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 31st will be paid a dividend of $0.15 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.18%. The ex-dividend date is Wednesday, January 15th. Paramount Resources’s dividend payout ratio is presently 76.27%.

Insider Buying and Selling

In related news, Senior Officer Michael S. Han sold 8,320 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of C$30.86, for a total value of C$256,788.48. Also, Senior Officer Garth W.J. Stotts sold 12,000 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of C$31.02, for a total value of C$372,183.60. Over the last 90 days, insiders have acquired 103,248 shares of company stock worth $3,231,616 and have sold 88,320 shares worth $2,730,172. Insiders own 45.36% of the company’s stock.

About Paramount Resources

Paramount Resources Ltd. explores for and develops conventional and unconventional petroleum and natural gas reserves and resources in Canada. The company holds interests in the Karr and Wapiti Montney properties covering an area of 109,000 net acres located south of the city of Grande Prairie, Alberta; Kaybob North Duvernay development and natural gas producing properties covering an area of 124,000 net acres located in west-central Alberta; and Willesden Green Duvernay development in central Alberta and shale gas producing properties in the Horn River Basin in northeast British Columbia covering an area of 249,000 net acres.