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

Key Points

• Paramount Resources shares crossed above their 200-day moving average, reaching C$32.01 and last trading at C$31.90 versus a 200-day average of C$28.73.
• Analysts remain generally positive, with a consensus “Moderate Buy” rating and a C$34.35 target price; several firms recently raised their targets to between C$36 and C$38.
• The company reported quarterly EPS of C$0.47 on revenue of C$317.90 million and declared a monthly dividend of C$0.05 per share, representing an annualized yield of about 1.9%.

Paramount Resources Ltd. (TSE:POU - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$28.73 and traded as high as C$32.01. Paramount Resources shares last traded at C$31.90, with a volume of 123,551 shares trading hands.

Analyst Ratings Changes

A number of research firms have commented on POU. Royal Bank Of Canada raised their target price on shares of Paramount Resources from C$35.00 to C$37.00 and gave the stock a "sector perform" rating in a research note on Friday, August 7th. Scotiabank upgraded shares of Paramount Resources to a "hold" rating in a research report on Friday, June 26th. Scotia increased their price objective on shares of Paramount Resources from C$34.00 to C$36.00 and gave the stock a "sector perform" rating in a research note on Friday, August 7th. National Bank Financial raised their price objective on shares of Paramount Resources from C$36.00 to C$38.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 13th. Finally, Raymond James Financial lifted their target price on shares of Paramount Resources from C$34.00 to C$36.00 and gave the company an "outperform" rating in a research note on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$34.35.

Paramount Resources Price Performance

The firm has a 50 day moving average of C$29.04 and a 200-day moving average of C$28.73. The company has a market cap of C$4.65 billion, a P/E ratio of 40.90, a P/E/G ratio of 0.14 and a beta of -0.25. The company has a current ratio of 1.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.90.

Paramount Resources (TSE:POU - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported C$0.47 EPS for the quarter. The firm had revenue of C$317.90 million for the quarter. Paramount Resources had a net margin of 11.19% and a return on equity of 4.30%. On average, equities research analysts predict that Paramount Resources Ltd. will post 1.4075758 EPS for the current year.

Paramount Resources Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 31st will be issued a dividend of $0.05 per share. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, August 17th. Paramount Resources's dividend payout ratio (DPR) is currently 76.92%.

Insiders Place Their Bets

In other Paramount Resources news, Director Dirk Jungé sold 8,850 shares of Paramount Resources stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of C$30.97, for a total value of C$274,084.50. Following the sale, the director owned 57,915 shares of the company's stock, valued at C$1,793,627.55. The trade was a 13.26% decrease in their position. Also, Director James Geral Bell sold 2,050 shares of the company's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of C$27.17, for a total value of C$55,698.50. Insiders have sold a total of 14,800 shares of company stock valued at $459,575 in the last quarter. 45.36% of the stock is currently owned by insiders.

Paramount Resources Company Profile

Paramount is an independent, publicly traded Canadian energy company that explores for and develops both conventional and unconventional petroleum and natural gas, including longer-term strategic exploration and pre-development plays. The Company's principal properties are located in Alberta and British Columbia. Paramount's class A common shares are listed on the Toronto Stock Exchange under the symbol "POU".

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