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

Paramount Resources Ltd. (TSE:POU) crossed above its 200-day moving average during trading on Monday . The stock has a 200-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 traded.

Analysts Set New Price Targets

Several analysts have commented on POU shares. Jefferies Financial Group lowered their price target on Paramount Resources from C$33.00 to C$31.00 in a report on Thursday, March 7th. National Bankshares upped their price target on shares of Paramount Resources from C$37.50 to C$40.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. BMO Capital Markets lifted their price target on shares of Paramount Resources from C$37.00 to C$38.50 and gave the company an “outperform” rating in a report on Friday, May 3rd. ATB Capital dropped their price objective on Paramount Resources from C$37.00 to C$36.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Finally, Scotiabank reduced their target price on Paramount Resources from C$30.00 to C$29.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Paramount Resources currently has an average rating of “Moderate Buy” and an average price target of C$35.80.

Paramount Resources Price Performance

The company has a debt-to-equity ratio of 0.84, a current ratio of 0.67 and a quick ratio of 0.68. The company has a market cap of C$4.54 billion, a PE ratio of 13.51, a P/E/G ratio of 0.14 and a beta of 3.19. The company has a 50-day moving average price of C$31.67 and a two-hundred day moving average price of C$28.75.

Paramount Resources (TSE:POU) last released its quarterly earnings results on Thursday, May 2nd. The company reported C$0.46 EPS for the quarter, missing the consensus estimate 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 company had revenue of C$452.30 million for the quarter, compared to analyst estimates of C$415.00 million. Sell-side analysts expect that Paramount Resources Ltd. will post 1.8292264 earnings per share for the current fiscal year.

Paramount Resources Dividend Announcement

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

Insider Activity at Paramount Resources

In other Paramount Resources news, Senior Officer Rodrigo Sousa sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of C$32.70, for a total value of C$327,014.00. In other news, Senior Officer John B. Williams sold 8,000 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of C$29.60, for a total transaction of C$236,800.00. Also, Senior Officer Rodrigo Sousa sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of C$32.70, for a total transaction of C$327,014.00. In the last three months, insiders sold 124,354 shares of company stock valued at $3,906,333. Corporate insiders own 45.57% of the company’s stock.

Paramount Resources Company Profile

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.