Paramount Resources (TSE:POU) Share Price Breaks Below 200 Day Moving Average - Should You Sell?

Key Points

• Paramount Resources shares fell below their 200-day moving average, trading as low as C$29.54 versus the C$29.90 average, with the latest price at C$29.63.
• Analysts remain generally positive: the stock has four Buy and four Hold ratings, an overall “Moderate Buy” consensus, and an average price target of C$34.35—above its recent trading level.
• The company reported C$0.47 quarterly EPS on C$317.9 million in revenue and declared a monthly C$0.05 dividend, equivalent to a 2.0% annualized yield.

Paramount Resources Ltd. (TSE:POU - Get Free Report)'s stock price passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of C$29.90 and traded as low as C$29.54. Paramount Resources shares last traded at C$29.63, with a volume of 224,885 shares trading hands.

Analyst Ratings Changes

POU has been the topic of a number of analyst reports. ATB Cormark Capital Markets raised their price target on Paramount Resources from C$35.00 to C$37.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. BMO Capital Markets upped their price objective on Paramount Resources from C$35.00 to C$37.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. Royal Bank Of Canada increased their price objective on Paramount Resources from C$35.00 to C$37.00 and gave the company a "sector perform" rating in a report on Friday, August 7th. Scotia raised their target price on Paramount Resources from C$34.00 to C$36.00 and gave the stock a "sector perform" rating in a research report on Friday, August 7th. Finally, Scotiabank upgraded Paramount Resources to a "hold" rating in a research note on Friday, June 26th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Paramount Resources presently has an average rating of "Moderate Buy" and an average price target of C$34.35.

Paramount Resources Stock Down 0.0%

The business's fifty day moving average price is C$31.04 and its 200 day moving average price is C$29.90. The company has a quick ratio of 0.68, a current ratio of 1.87 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of C$4.32 billion, a PE ratio of 37.99, a PEG ratio of 0.14 and a beta of -0.26.

Paramount Resources (TSE:POU - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported C$0.47 earnings per share (EPS) for the quarter. Paramount Resources had a return on equity of 4.30% and a net margin of 11.19%.The firm had revenue of C$317.90 million for the quarter. On average, equities research analysts forecast that Paramount Resources Ltd. will post 1.4075758 earnings per share for the current fiscal year.

Paramount Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th will be paid a $0.05 dividend. This represents a $0.60 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Paramount Resources's payout ratio is currently 76.92%.

Insider Buying and Selling

In other news, Director James Geral Bell sold 2,050 shares of the firm's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of C$27.17, for a total value of C$55,698.50. 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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