Paramount Resources (TSE:POU) Stock Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Paramount Resources (TSE:POU) moved above its 200-day moving average on Tuesday, trading as high as C$29.29 before last changing hands at C$28.85.
• Analysts have recently raised price targets, with the consensus view now at “Moderate Buy” and an average target of C$32.94. Several firms also lifted their targets into the C$35-C$38 range.
• The company recently reported C$0.36 EPS on revenue of C$276.2 million and declared a monthly dividend of C$0.05 per share, though the payout ratio remains high at 150%.

Paramount Resources Ltd. (TSE:POU - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$27.78 and traded as high as C$29.29. Paramount Resources shares last traded at C$28.85, with a volume of 162,900 shares changing hands.

Analysts Set New Price Targets

A number of analysts recently commented on POU shares. Royal Bank Of Canada boosted their target price on shares of Paramount Resources from C$32.00 to C$35.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 13th. Scotiabank upgraded shares of Paramount Resources to a "hold" rating in a research report on Friday, June 26th. Raymond James Financial increased their price objective on Paramount Resources from C$34.00 to C$36.00 and gave the company an "outperform" rating in a research report on Wednesday, May 13th. Finally, National Bank Financial raised their price objective on Paramount Resources from C$36.00 to C$38.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$32.94.

Paramount Resources Stock Performance

The firm's 50-day simple moving average is C$29.65 and its two-hundred day simple moving average is C$27.78. The company has a current ratio of 2.57, a quick ratio of 0.68 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of C$4.21 billion, a PE ratio of 72.12, a PEG ratio of 0.14 and a beta of -0.24.

Paramount Resources (TSE:POU - Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported C$0.36 earnings per share (EPS) for the quarter. The company had revenue of C$276.20 million during the quarter. Paramount Resources had a return on equity of 1.96% and a net margin of 5.90%. On average, equities research analysts expect that Paramount Resources Ltd. will post 1.4075758 earnings per share for the current fiscal year.

Paramount Resources Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 31st will be given a dividend of $0.05 per share. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, July 17th. Paramount Resources's payout ratio is presently 150.00%.

Insider Transactions at Paramount Resources

In other Paramount Resources news, insider David Blake Reid sold 25,000 shares of Paramount Resources stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of C$30.90, for a total transaction of C$772,500.00. Following the transaction, the insider owned 172,313 shares of the company's stock, valued at C$5,324,471.70. The trade was a 12.67% decrease in their position. Also, insider Joerg Wittenberg sold 3,900 shares of the company's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of C$33.28, for a total value of C$129,792.00. Following the completion of the transaction, the insider owned 54,321 shares in the company, valued at C$1,807,802.88. This represents a 6.70% decrease in their position. In the last 90 days, insiders bought 10,148 shares of company stock worth $308,401 and sold 44,800 shares worth $1,388,875. Insiders own 45.36% of the company's stock.

About Paramount Resources

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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