Paramount Resources (TSE:POU) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of 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$28.79 and traded as high as C$32.65. Paramount Resources shares last traded at C$32.45, with a volume of 753,591 shares trading hands.

Wall Street Analysts Forecast Growth

POU has been the topic of a number of analyst reports. Cibc World Mkts upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Scotiabank increased their price target on shares of Paramount Resources from C$44.00 to C$46.00 in a research report on Friday, January 17th. CIBC boosted their price objective on shares of Paramount Resources from C$38.00 to C$39.50 in a research report on Friday, November 15th. Royal Bank of Canada raised their target price on Paramount Resources from C$34.00 to C$37.00 in a report on Friday, November 15th. Finally, Cormark raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Paramount Resources has an average rating of “Moderate Buy” and an average target price of C$38.67.

Paramount Resources Stock Up 0.4 %

The firm has a 50-day simple moving average of C$30.56 and a 200 day simple moving average of C$28.79. The stock has a market capitalization of C$4.76 billion, a P/E ratio of 13.75, a P/E/G ratio of 0.14 and a beta of 3.04. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.75 and a quick ratio of 0.68.

Paramount Resources Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 28th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, February 20th. This represents a $0.60 annualized dividend and a yield of 1.85%. Paramount Resources’s dividend payout ratio is presently 76.27%.

Insider Buying and Selling at Paramount Resources

In related news, Senior Officer David Blake Reid sold 68,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of C$30.90, for a total value of C$2,101,200.00. Also, Senior Officer Garth W.J. Stotts sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of C$31.02, for a total transaction of C$372,183.60. In the last ninety days, insiders acquired 103,248 shares of company stock worth $3,231,616 and sold 88,320 shares worth $2,730,172. Corporate 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.