Paramount Resources (TSE:POU) Stock Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of Paramount Resources Ltd. (TSE:POU) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$27.17 and traded as high as C$30.37. Paramount Resources shares last traded at C$30.04, with a volume of 323,569 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Canadian Imperial Bank of Commerce upped their price objective on Paramount Resources from C$25.50 to C$30.50 in a research report on Wednesday, March 4th. BMO Capital Markets upped their price objective on Paramount Resources from C$24.00 to C$32.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 4th. Roth Mkm set a C$33.00 price objective on Paramount Resources and gave the stock a “buy” rating in a research report on Wednesday, March 4th. National Bank Financial raised their price target on Paramount Resources from C$36.00 to C$38.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 13th. Finally, Raymond James Financial raised their price target on Paramount Resources from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$32.94.

Paramount Resources Stock Performance

The company has a market capitalization of C$4.29 billion, a price-to-earnings ratio of 73.70, a PEG ratio of 0.14 and a beta of -0.28. The stock has a 50-day moving average price of C$29.78 and a 200-day moving average price of C$27.23. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.57 and a quick ratio of 0.68.

Paramount Resources (TSE:POU) last released its quarterly earnings data on Tuesday, May 12th. The company reported C$0.36 earnings per share (EPS) for the quarter. The company had revenue of C$276.20 million during the quarter. Paramount Resources had a return on equity of 1.96% and a net margin of 5.90%. As a group, analysts forecast that Paramount Resources Ltd. will post 1.4075758 earnings per share for the current year.

Paramount Resources Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%. Paramount Resources’s dividend payout ratio (DPR) is 150.00%.

Insider Activity at Paramount Resources

In other news, Director Dirk Jungé sold 8,850 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of C$30.97, for a total transaction of C$274,084.50. Following the transaction, the director owned 57,915 shares in the company, valued at approximately C$1,793,627.55. This trade represents a 13.26% decrease in their ownership of the stock. Also, insider David Blake Reid sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of C$30.90, for a total value of C$772,500.00. Following the transaction, the insider owned 172,313 shares in the company, valued at approximately C$5,324,471.70. This trade represents a 12.67% decrease in their position. In the last 90 days, insiders have purchased 9,688 shares of company stock valued at $295,917 and have sold 60,750 shares valued at $1,879,317. 45.36% of the stock is currently owned by company insiders.

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”.