Paramount Resources (TSE:POU) Stock Price Crosses Above 200-Day Moving Average - What's Next?

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 two hundred day moving average during trading on Monday . The stock has a two hundred 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 Upgrades and Downgrades

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

Paramount Resources Trading Up 0.4%

The company has a quick ratio of 0.68, a current ratio of 0.62 and a debt-to-equity ratio of 2.06. The firm has a 50 day moving average of C$20.99 and a 200 day moving average of C$20.75. The firm has a market cap of C$3.25 billion, a PE ratio of 8.93, a P/E/G ratio of 0.14 and a beta of 3.04.

Paramount Resources Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 31st will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $0.60 annualized dividend and a dividend yield of 2.75%. Paramount Resources's dividend payout ratio is currently 73.70%.

Insider Buying and Selling at Paramount Resources

In other Paramount Resources news, Senior Officer Garth W.J. Stotts sold 5,122 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of C$19.16, for a total transaction of C$98,130.35. Also, Senior Officer Rodrigo Sousa sold 43,535 shares of the company'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. Corporate insiders own 45.36% of the company's stock.

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.