Paramount Resources (TSE:POU) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Key Points

• Paramount Resources Ltd.'s stock has recently crossed above its 200-day moving average, trading at C$23.38 with a volume of 161,811 shares.
• Brokerage firms have raised their target prices for the stock, with the consensus target now at C$25.21 and a consensus rating of "Moderate Buy."
• The company announced a monthly dividend of $0.05 per share, which will be paid on October 31st, representing an annualized yield of 2.6%.

Paramount Resources Ltd. (TSE:POU - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$19.81 and traded as high as C$24.03. Paramount Resources shares last traded at C$23.38, with a volume of 161,811 shares.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on POU. Jefferies Financial Group upped their price target on Paramount Resources from C$21.00 to C$25.00 in a report on Wednesday, July 23rd. National Bankshares upped their target price on shares of Paramount Resources from C$25.00 to C$27.50 and gave the company a "sector perform" rating in a report on Thursday, September 25th. Finally, Royal Bank Of Canada increased their target price on shares of Paramount Resources from C$23.00 to C$26.00 and gave the company a "sector perform" rating in a research report on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$25.21.

Paramount Resources Stock Performance

The stock has a market cap of C$3.35 billion, a PE ratio of 2.33, a P/E/G ratio of 0.14 and a beta of 0.49. The firm's 50-day moving average is C$21.02 and its 200 day moving average is C$19.81. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.68 and a current ratio of 0.62.

Paramount Resources Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 31st will be paid a dividend of $0.05 per share. The ex-dividend date is Wednesday, October 15th. This represents a c) annualized dividend and a dividend yield of 2.6%. Paramount Resources's dividend payout ratio is 11.94%.

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.

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