Paramount Resources (TSE:POU) Shares Pass Above 200-Day Moving Average of $28.75

Shares of Paramount Resources Ltd. (TSE:POU) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$28.75 and traded as high as C$31.29. Paramount Resources shares last traded at C$31.08, with a volume of 259,054 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on POU. Scotiabank dropped their target price on shares of Paramount Resources from C$30.00 to C$29.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. CIBC increased their price objective on shares of Paramount Resources from C$35.00 to C$37.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. BMO Capital Markets raised their target price on shares of Paramount Resources from C$37.00 to C$38.50 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. ATB Capital dropped their price target on Paramount Resources from C$37.00 to C$36.00 and set an “outperform” rating for the company in a research report on Thursday, March 7th. Finally, Cormark downgraded Paramount Resources from a “buy” rating to a “market perform” rating and reduced their price objective for the stock from C$40.00 to C$37.50 in a research report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Paramount Resources has an average rating of “Moderate Buy” and an average price target of C$35.80.

Paramount Resources Trading Up 0.4 %

The stock has a market cap of C$4.54 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 0.14 and a beta of 3.19. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.68 and a current ratio of 0.67. The company has a 50 day moving average of C$31.67 and a 200-day moving average of C$28.75.

Paramount Resources (TSE:POU) last released its earnings results on Thursday, May 2nd. The company reported C$0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.59 by C($0.13). Paramount Resources had a return on equity of 9.92% and a net margin of 19.97%. The business had revenue of C$452.30 million for the quarter, compared to analyst estimates of C$415.00 million. On average, research analysts anticipate that Paramount Resources Ltd. will post 1.8292264 earnings per share for the current year.

Paramount Resources Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were paid a $0.15 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.79%. The ex-dividend date of this dividend was Monday, June 17th. Paramount Resources’s payout ratio is presently 78.26%.

Insider Buying and Selling

In related news, Senior Officer John B. Williams sold 11,929 shares of Paramount Resources stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$31.00, for a total value of C$369,799.00. In other news, Senior Officer Joerg Wittenberg sold 22,000 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of C$32.64, for a total transaction of C$718,080.00. Also, Senior Officer John B. Williams sold 11,929 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of C$31.00, for a total value of C$369,799.00. Over the last ninety days, insiders have sold 124,354 shares of company stock worth $3,906,333. Company insiders own 45.57% of the company’s stock.

About Paramount Resources

Paramount Resources Ltd. explores for and develops conventional and unconventional petroleum and natural gas reserves and resources in Canada. The company holds interests in the Karr and Wapiti Montney properties covering an area of 109,000 net acres located south of the city of Grande Prairie, Alberta; Kaybob North Duvernay development and natural gas producing properties covering an area of 124,000 net acres located in west-central Alberta; and Willesden Green Duvernay development in central Alberta and shale gas producing properties in the Horn River Basin in northeast British Columbia covering an area of 249,000 net acres.