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

Paramount Resources Ltd. (TSE:POU) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$28.94 and traded as high as C$32.14. Paramount Resources shares last traded at C$31.78, with a volume of 291,122 shares trading hands.

Wall Street Analysts Forecast Growth

POU has been the subject of several research reports. Cibc World Mkts upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Jefferies Financial Group lowered their target price on shares of Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Royal Bank of Canada lifted their price objective on shares of Paramount Resources from C$34.00 to C$37.00 in a report on Friday, November 15th. Cormark upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. Finally, CIBC raised their target price on shares of Paramount Resources from C$38.00 to C$39.50 in a research report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$38.20.

Paramount Resources Stock Performance

The company has a market cap of C$4.66 billion, a PE ratio of 13.47, a P/E/G ratio of 0.14 and a beta of 3.04. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83. The firm’s 50-day simple moving average is C$29.99 and its two-hundred day simple moving average is C$28.94.

Paramount Resources Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 31st will be given a dividend of $0.15 per share. This represents a $1.80 annualized dividend and a yield of 5.66%. The ex-dividend date of this dividend is Wednesday, January 15th. Paramount Resources’s dividend payout ratio is presently 76.27%.

Insiders Place Their Bets

In other Paramount Resources news, Senior Officer Michael S. Han sold 8,320 shares of Paramount Resources stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of C$30.86, for a total transaction of C$256,788.48. Also, Director Kimberley Elizabeth Lynch Proctor acquired 3,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were acquired at an average price of C$31.36 per share, with a total value of C$94,080.00. In the last quarter, insiders have sold 88,320 shares of company stock valued at $2,730,172. Insiders own 45.36% 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.