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

Key Points

• Paramount Resources Ltd. stock price recently crossed above its 200-day moving average, currently trading at C$20.45 with a high of C$20.54.
• Analysts have raised their price targets for Paramount, with Royal Bank of Canada setting a new target at C$23.00 and Jefferies Financial Group at C$25.00, indicating a consensus rating of "Moderate Buy."
• The company declared a dividend of $0.05 payable on September 29, representing an impressive yield of 289.0% and a payout ratio of 11.94%.

Shares of Paramount Resources Ltd. (TSE:POU - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$19.01 and traded as high as C$20.54. Paramount Resources shares last traded at C$20.45, with a volume of 296,961 shares.

Analyst Ratings Changes

Several brokerages recently issued reports on POU. Royal Bank Of Canada lifted their price objective 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. Jefferies Financial Group lifted their price objective on Paramount Resources from C$21.00 to C$25.00 in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of C$24.33.

Paramount Resources Stock Performance

The stock has a 50 day simple moving average of C$20.74 and a 200 day simple moving average of C$19.12. The company has a market cap of C$2.90 billion, a price-to-earnings ratio of 2.01, a PEG ratio of 0.14 and a beta of 0.68. The company has a quick ratio of 0.68, a current ratio of 0.62 and a debt-to-equity ratio of 2.06.

Paramount Resources Dividend Announcement

The business also recently disclosed a sep 25 dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 29th will be paid a dividend of $0.05 per share. This represents a dividend yield of 289.0%. The ex-dividend date is Monday, September 15th. Paramount Resources's payout ratio is currently 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.