Paramount Resources (TSE:POU) Shares Pass Above 200-Day Moving Average – What’s Next?

Paramount Resources Ltd. (TSE:POU)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$22.71 and traded as high as C$25.20. Paramount Resources shares last traded at C$24.54, with a volume of 371,639 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Raymond James Financial raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Thursday, January 15th. CIBC increased their price target on shares of Paramount Resources from C$25.00 to C$26.00 in a research note on Wednesday, October 15th. Jefferies Financial Group lowered their price objective on shares of Paramount Resources from C$29.00 to C$28.00 in a report on Tuesday, January 20th. Finally, Scotiabank upped their target price on Paramount Resources from C$29.00 to C$31.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Paramount Resources currently has an average rating of “Hold” and an average target price of C$27.21.

Paramount Resources Stock Performance

The company has a market capitalization of C$3.52 billion, a P/E ratio of 2.61, a price-to-earnings-growth ratio of 0.14 and a beta of 0.19. The company’s 50 day moving average is C$24.39 and its 200-day moving average is C$22.71. The company has a current ratio of 0.62, a quick ratio of 0.68 and a debt-to-equity ratio of 2.06.

Paramount Resources (TSE:POU) last announced its quarterly earnings data on Tuesday, November 4th. The company reported C($0.02) earnings per share for the quarter. Paramount Resources had a return on equity of 10.06% and a net margin of 18.92%.The business had revenue of C$187.30 million during the quarter. Equities analysts anticipate that Paramount Resources Ltd. will post 1.4075758 EPS for the current fiscal year.

Paramount Resources Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were given a dividend of $0.05 per share. This represents a c) dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Monday, December 15th. Paramount Resources’s dividend payout ratio (DPR) is 9.58%.

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”.