Paramount Resources (TSE:POU) Stock Crosses Above 200 Day Moving Average - Should You Sell?

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%.

Paramount Resources Ltd. (TSE:POU - Get Free Report)'s stock price 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

A number of research firms have recently issued reports on POU. Royal Bank Of Canada lifted their price objective on shares of Paramount Resources from C$21.00 to C$23.00 and gave the company a "sector perform" rating in a report on Monday, June 30th. Jefferies Financial Group upped their price objective on Paramount Resources from C$21.00 to C$25.00 in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$24.33.

Paramount Resources Trading Up 2.5%

The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.68 and a current ratio of 0.62. The business has a fifty day simple moving average of C$20.75 and a 200 day simple moving average of C$19.06. The stock has a market capitalization of C$2.94 billion, a price-to-earnings ratio of 2.04, a price-to-earnings-growth ratio of 0.14 and a beta of 0.68.

Paramount Resources Dividend Announcement

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