Paramount Resources (TSE:POU) Stock Crosses Above 200-Day Moving Average – What’s Next?

Paramount Resources Ltd. (TSE:POU)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$28.94 and traded as high as C$32.14. Paramount Resources shares last traded at C$31.78, with a volume of 291,122 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on POU shares. Scotiabank raised their target price on shares of Paramount Resources from C$43.00 to C$44.00 in a research note on Friday, November 15th. Royal Bank of Canada lifted their price objective on Paramount Resources from C$34.00 to C$37.00 in a research report on Friday, November 15th. Jefferies Financial Group dropped their target price on Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Cibc World Mkts raised Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Cormark raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Paramount Resources has an average rating of “Moderate Buy” and a consensus target price of C$38.20.

Paramount Resources Stock Performance

The stock has a market capitalization of C$4.66 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 0.14 and a beta of 3.04. The firm’s fifty day moving average is C$29.99 and its 200-day moving average is C$28.94. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83.

Paramount Resources Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 31st will be issued a $0.15 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $1.80 annualized dividend and a yield of 5.66%. Paramount Resources’s dividend payout ratio (DPR) is currently 76.27%.

Insider Activity at Paramount Resources

In other news, Director Kimberley Elizabeth Lynch Proctor bought 3,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was bought at an average cost of C$31.36 per share, with a total value of C$94,080.00. Also, Senior Officer Garth W.J. Stotts sold 12,000 shares of Paramount Resources stock in a transaction dated Monday, November 18th. The shares were sold at an average price of C$31.02, for a total value of C$372,183.60. In the last ninety days, insiders have sold 88,320 shares of company stock worth $2,730,172. Company 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.