Paramount Resources (TSE:POU) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Paramount Resources Ltd. recently crossed above its 200-day moving average, with shares trading at C$21.72.
• The company declared a monthly dividend of $0.05 per share, which results in an annualized yield of 2.76%.
• Analysts have varying outlooks on the stock, with target prices ranging from C$20.00 to C$25.00, and a consensus rating of "Moderate Buy."

Paramount Resources Ltd. (TSE:POU - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$20.75 and traded as high as C$21.82. Paramount Resources shares last traded at C$21.72, with a volume of 303,155 shares.

Analyst Ratings Changes

POU has been the subject of a number of recent research reports. Royal Bank Of Canada increased their target price on shares of Paramount Resources from C$21.00 to C$23.00 and gave the company a "sector perform" rating in a research report on Monday, June 30th. Jefferies Financial Group increased their price objective on shares of Paramount Resources from C$21.00 to C$25.00 in a report on Wednesday, July 23rd. CIBC decreased their target price on shares of Paramount Resources from C$24.50 to C$22.00 in a research note on Thursday, April 10th. Finally, Raymond James Financial set a C$20.00 price target on Paramount Resources and gave the company a "market perform" rating in a research report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$24.33.

Paramount Resources Price Performance

The stock has a market cap of C$3.08 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. The stock's fifty day moving average is C$21.14 and its 200-day moving average is C$20.70. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.62 and a quick ratio of 0.68.

Paramount Resources Announces Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 31st were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. Paramount Resources's dividend payout ratio (DPR) is currently 73.70%.

Insider Buying and Selling

In other Paramount Resources news, Senior Officer Rodrigo Sousa sold 43,535 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of C$21.85, for a total transaction of C$951,239.75. Also, Senior Officer Garth W.J. Stotts sold 5,122 shares of Paramount Resources stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of C$19.16, for a total value of C$98,130.35. 45.36% of the stock is owned by company insiders.

About Paramount Resources

Paramount Resources Ltd is a Canadian energy company that explores, develops, produces, and markets natural gas, crude oil, and natural gas liquids. The company takes part in exploration and production in Alberta and British Columbia. Sales for Paramount's products are priced in a multitude of markets that span the United States and Canada.