Paramount Resources (TSE:POU) Stock Passes Above 200 Day Moving Average – Here’s What Happened

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$27.78 and traded as high as C$29.29. Paramount Resources shares last traded at C$28.85, with a volume of 162,900 shares trading hands.

Analyst Ratings Changes

Several research analysts have commented on the stock. Raymond James Financial increased their price objective on shares of Paramount Resources from C$34.00 to C$36.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. National Bank Financial lifted their target price on Paramount Resources from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 13th. Scotiabank upgraded Paramount Resources to a “hold” rating in a research report on Friday, June 26th. Finally, Royal Bank Of Canada increased their price target on Paramount Resources from C$32.00 to C$35.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Paramount Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of C$32.94.

Paramount Resources Stock Up 0.5%

The company has a quick ratio of 0.68, a current ratio of 2.57 and a debt-to-equity ratio of 0.89. The stock has a market cap of C$4.19 billion, a price-to-earnings ratio of 71.80, a PEG ratio of 0.14 and a beta of -0.24. The business’s fifty day moving average is C$29.63 and its two-hundred day moving average is C$27.81.

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

Paramount Resources Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 31st will be paid a $0.05 dividend. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, July 17th. Paramount Resources’s dividend payout ratio (DPR) is presently 150.00%.

Insider Buying and Selling at Paramount Resources

In other news, Director Dirk Jungé sold 8,850 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of C$30.97, for a total value of C$274,084.50. Following the sale, the director directly owned 57,915 shares in the company, valued at C$1,793,627.55. This represents a 13.26% decrease in their ownership of the stock. Also, insider Joerg Wittenberg sold 3,900 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of C$33.28, for a total transaction of C$129,792.00. Following the completion of the transaction, the insider owned 54,321 shares in the company, valued at approximately C$1,807,802.88. This trade represents a 6.70% decrease in their ownership of the stock. Over the last ninety days, insiders have acquired 10,148 shares of company stock worth $308,401 and have sold 44,800 shares worth $1,388,875. Corporate insiders own 45.36% of the company’s stock.

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”.