Paramount Resources (TSE:POU) Shares Pass Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Paramount Resources shares have recently crossed above their 200-day moving average, trading at C$20.34, indicating positive momentum in the stock.
• Analysts have raised their price targets for POU; Jefferies increased it from C$21.00 to C$25.00, while the consensus rating is a "Moderate Buy" with an average target of C$24.33.
• The company declared a monthly dividend of $0.05 per share, with a yield of 2.9% and a payout ratio of 73.70%.

Paramount Resources Ltd. (TSE:POU - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$19.35 and traded as high as C$20.48. Paramount Resources shares last traded at C$20.34, with a volume of 160,786 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on POU. Jefferies Financial Group boosted their price objective on Paramount Resources from C$21.00 to C$25.00 in a research report on Wednesday, July 23rd. 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. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$24.33.

Paramount Resources Stock Performance

The company has a debt-to-equity ratio of 2.06, a current ratio of 0.62 and a quick ratio of 0.68. The stock has a 50 day simple moving average of C$20.99 and a two-hundred day simple moving average of C$19.09. The company has a market cap of C$2.93 billion, a PE ratio of 2.03, a PEG ratio of 0.14 and a beta of 0.77.

Paramount Resources Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 29th were paid a $0.05 dividend. The ex-dividend date was Friday, August 15th. This represents a c) dividend on an annualized basis and a yield of 2.9%. Paramount Resources's payout ratio is currently 11.94%.

Insiders Place Their Bets

In other Paramount Resources news, Senior Officer Rodrigo Sousa sold 43,535 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of C$21.85, for a total value of C$951,239.75. Corporate insiders own 45.36% of the company's stock.

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.