Paramount Resources (TSE:POU) Shares Cross Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Paramount Resources shares crossed above their 200-day moving average, reaching C$32.00 before closing at C$31.65, compared with a 200-day average of C$29.60.
• Analyst sentiment is broadly positive: four analysts rate the stock Buy and four rate it Hold, producing a “Moderate Buy” consensus and an average price target of C$34.35.
• The company reported quarterly EPS of C$0.47 on C$317.9 million in revenue and announced a monthly C$0.05-per-share dividend, equivalent to a 1.9% annualized yield.

Paramount Resources Ltd. (TSE:POU - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$29.60 and traded as high as C$32.00. Paramount Resources shares last traded at C$31.65, with a volume of 270,731 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently commented on POU. ATB Cormark Capital Markets boosted their target price on shares of Paramount Resources from C$35.00 to C$37.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Scotia raised their price target on Paramount Resources from C$34.00 to C$36.00 and gave the company a "sector perform" rating in a research note on Friday, August 7th. Royal Bank Of Canada lifted their price target on Paramount Resources from C$35.00 to C$37.00 and gave the stock a "sector perform" rating in a report on Friday, August 7th. Scotiabank raised Paramount Resources to a "hold" rating in a research report on Friday, June 26th. Finally, 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. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Paramount Resources currently has an average rating of "Moderate Buy" and an average price target of C$34.35.

Paramount Resources Stock Down 0.3%

The firm's 50-day moving average price is C$30.36 and its two-hundred day moving average price is C$29.60. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.68 and a current ratio of 1.87. The firm has a market cap of C$4.62 billion, a PE ratio of 40.58, a P/E/G ratio of 0.14 and a beta of -0.26.

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

Paramount Resources Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%. Paramount Resources's payout ratio is 76.92%.

Insider Activity at Paramount Resources

In other news, Director James Geral Bell sold 2,050 shares of the business's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of C$27.17, for a total value of C$55,698.50. Company insiders own 45.36% of the company's stock.

Paramount Resources Company Profile

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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