Paramount Resources (TSE:POU) Stock Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Paramount Resources Ltd. (TSE:POU) saw its stock price rise above its 200-day moving average, reaching a high of C$22.72 before closing at C$22.60.
• Multiple analysts have raised their price targets for Paramount Resources, with Jefferies Financial Group setting a new target of C$25.00 and National Bankshares increasing theirs to C$27.50.
• The company recently announced a dividend of $0.05 per share, yielding an impressive 289.0% with a payout ratio of 11.94%.

Paramount Resources Ltd. (TSE:POU - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$19.57 and traded as high as C$22.72. Paramount Resources shares last traded at C$22.60, with a volume of 119,266 shares trading hands.

Analysts Set New Price Targets

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

Paramount Resources Trading Up 0.6%

The firm's 50-day simple moving average is C$20.82 and its 200-day simple moving average is C$19.57. The company has a quick ratio of 0.68, a current ratio of 0.62 and a debt-to-equity ratio of 2.06. The firm has a market capitalization of C$3.24 billion, a PE ratio of 2.25, a price-to-earnings-growth ratio of 0.14 and a beta of 0.68.

Paramount Resources Dividend Announcement

The firm also recently declared a sep 25 dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 29th were given a dividend of $0.05 per share. This represents a yield of 289.0%. The ex-dividend date was Monday, September 15th. Paramount Resources's dividend payout ratio is presently 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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