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

Shares of Paramount Resources Ltd. (TSE:POU) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$28.25 and traded as high as C$29.40. Paramount Resources shares last traded at C$29.19, with a volume of 122,982 shares trading hands.

Analyst Ratings Changes

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

Paramount Resources Stock Performance

The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 2.57. The firm has a market capitalization of C$4.32 billion, a PE ratio of 73.97, a price-to-earnings-growth ratio of 0.14 and a beta of -0.24. The firm’s 50 day moving average price is C$29.13 and its 200-day moving average price is C$28.26.

Paramount Resources (TSE:POU) last announced its quarterly earnings results on Tuesday, May 12th. The company reported C$0.36 earnings per share for the quarter. The firm 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%. On average, research analysts expect that Paramount Resources Ltd. will post 1.4075758 EPS for the current year.

Paramount Resources Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 31st were given a $0.05 dividend. The ex-dividend date was Friday, July 17th. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%. Paramount Resources’s payout ratio is 150.00%.

Insider Buying and Selling at Paramount Resources

In related news, insider Tyson Riddell sold 5,000 shares of Paramount Resources stock in a transaction on Thursday, May 14th. The shares were sold at an average price of C$31.36, for a total value of C$156,800.00. Following the sale, the insider owned 14,458 shares of the company’s stock, valued at approximately C$453,402.88. This trade represents a 25.70% decrease in their position. Also, insider Joerg Wittenberg sold 3,900 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of C$33.28, for a total transaction of C$129,792.00. Following the completion of the sale, the insider directly owned 54,321 shares of the company’s stock, valued at approximately C$1,807,802.88. The trade was a 6.70% decrease in their position. Over the last quarter, insiders acquired 10,148 shares of company stock worth $308,401 and 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”.