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

Paramount Resources Ltd. (TSE:POU)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$28.25 and traded as high as C$29.40. Paramount Resources shares last traded at C$29.19, with a volume of 122,982 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on POU shares. Raymond James Financial raised their target price on Paramount Resources from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Scotiabank raised Paramount Resources to a “hold” rating in a report on Friday, June 26th. Royal Bank Of Canada upped their price target on Paramount Resources from C$32.00 to C$35.00 and gave the stock a “sector perform” 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 equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$32.94.

Paramount Resources Trading Down 0.9%

The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 2.57. The company has a market capitalization of C$4.26 billion, a PE ratio of 72.97, a PEG ratio of 0.14 and a beta of -0.24. The stock has a fifty day moving average of C$29.20 and a 200 day moving average of C$28.25.

Paramount Resources (TSE:POU) last announced its quarterly earnings data on Tuesday, May 12th. The company reported C$0.36 earnings per share (EPS) for the quarter. The business had revenue of C$276.20 million during the quarter. Paramount Resources had a net margin of 5.90% and a return on equity of 1.96%. As a group, sell-side analysts predict that Paramount Resources Ltd. will post 1.4075758 earnings per share for the current fiscal year.

Paramount Resources Announces Dividend

The business also recently announced 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. The ex-dividend date is Friday, July 17th. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. Paramount Resources’s dividend payout ratio is currently 150.00%.

Insider Activity at Paramount Resources

In related news, insider Joerg Wittenberg sold 3,900 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of C$33.28, for a total transaction of C$129,792.00. Following the completion of the transaction, the insider directly owned 54,321 shares of the company’s stock, valued at approximately C$1,807,802.88. This trade represents a 6.70% decrease in their ownership of the stock. Also, insider Rodrigo Sousa purchased 6,946 shares of Paramount Resources stock in a transaction on Wednesday, May 13th. The stock was bought at an average price of C$30.50 per share, for a total transaction of C$211,853.00. Following the completion of the acquisition, the insider owned 25,100 shares in the company, valued at C$765,550. The trade was a 38.26% increase in their position. In the last ninety days, insiders bought 10,148 shares of company stock valued at $308,401 and sold 44,800 shares valued at $1,388,875. 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”.