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

Paramount Resources Ltd. (TSE:POU) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$29.90 and traded as high as C$31.35. Paramount Resources shares last traded at C$31.24, with a volume of 386,614 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Scotia increased their price target on shares of Paramount Resources from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a report 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 company an “outperform” rating in a research report on Friday, August 7th. Royal Bank Of Canada increased their target price on Paramount Resources from C$35.00 to C$37.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. ATB Cormark Capital Markets lifted their target price on Paramount Resources from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Finally, Scotiabank upgraded Paramount Resources to a “hold” rating in a research note on Friday, June 26th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. 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 Performance

The business’s fifty day moving average price is C$31.11 and its 200-day moving average price is C$29.92. The stock has a market cap of C$4.68 billion, a PE ratio of 41.09, a P/E/G ratio of 0.14 and a beta of -0.16. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.68 and a current ratio of 1.87.

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

Paramount Resources Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 30th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, October 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.9%. Paramount Resources’s payout ratio is currently 76.92%.

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”.