Paramount Resources (TSE:POU) Share Price Passes Above 200 Day Moving Average - Should You Sell?

Paramount Resources Ltd. (TSE:POU - Get Free Report) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$21.34 and traded as high as C$21.81. Paramount Resources shares last traded at C$21.55, with a volume of 133,150 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on POU shares. CIBC reduced their target price on Paramount Resources from C$24.50 to C$22.00 in a report on Thursday, April 10th. 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 report on Monday, June 30th. Finally, Raymond James Financial set a C$20.00 target price on Paramount Resources and gave the stock a "market perform" rating in a report on Tuesday, April 8th. 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's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of C$23.67.

Paramount Resources Trading Up 1.1%

The company has a market capitalization of C$3.21 billion, a price-to-earnings ratio of 8.82, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. The business has a fifty day moving average price of C$20.65 and a 200 day moving average price of C$21.27. 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 Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 31st will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, July 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.78%. Paramount Resources's dividend payout ratio (DPR) is presently 73.70%.

Insider Buying and Selling

In other news, Senior Officer Garth W.J. Stotts sold 5,122 shares of the business's stock in a transaction that occurred 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 business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of C$21.85, for a total value of C$951,239.75. 45.36% of the stock is owned by insiders.

Paramount Resources Company Profile

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.