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

Key Points

• Paramount Resources Ltd. has seen its stock price rise above the 200-day moving average, currently trading at C$20.63, with a high of C$20.85 during recent trading.
• The company recently declared a dividend of $0.05 per share, scheduled to be paid on September 29th, which corresponds to an impressive dividend yield of 289.0%.
• Analysts have raised their target price for Paramount Resources, with the current consensus target price at C$24.33, reflecting a strong positive outlook for the stock.

Paramount Resources Ltd. (TSE:POU - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$19.14 and traded as high as C$20.85. Paramount Resources shares last traded at C$20.63, with a volume of 289,854 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Royal Bank Of Canada upped 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 shares of 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 issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Paramount Resources currently has an average rating of "Moderate Buy" and an average target price of C$24.33.

Paramount Resources Trading Down 1.7%

The company's fifty day moving average is C$20.65 and its two-hundred day moving average is C$19.26. 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 company has a market cap of C$2.90 billion, a price-to-earnings ratio of 2.01, a P/E/G ratio of 0.14 and a beta of 0.68.

Paramount Resources Announces Dividend

The firm also recently declared a sep 25 dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 29th will be issued a $0.05 dividend. This represents a yield of 289.0%. The ex-dividend date is Monday, September 15th. Paramount Resources's dividend payout ratio is 11.94%.

Paramount Resources Company Profile

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.