Paramount Resources (TSE:POU) Stock Passes Above Two Hundred Day Moving Average of $30.26

Paramount Resources Ltd. (TSE:POU)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$30.26 and traded as high as C$32.41. Paramount Resources shares last traded at C$32.21, with a volume of 157,242 shares trading hands.

Analyst Upgrades and Downgrades

POU has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price objective on shares of Paramount Resources from C$35.00 to C$37.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 3rd. CIBC lifted their price objective on Paramount Resources from C$37.50 to C$40.00 in a report on Friday, July 14th. Raymond James reduced their target price on Paramount Resources from C$40.00 to C$37.00 in a report on Friday, July 14th. Finally, National Bankshares raised Paramount Resources from a “sector perform” rating to an “outperform” rating and set a C$40.00 price target on the stock in a research note on Thursday, August 3rd.

Paramount Resources Stock Up 2.9 %

The business has a 50 day simple moving average of C$30.42 and a 200-day simple moving average of C$30.26. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.68 and a current ratio of 0.88. The firm has a market capitalization of C$4.61 billion, a price-to-earnings ratio of 6.43, a P/E/G ratio of 0.14 and a beta of 3.55.

Paramount Resources (TSE:POU) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported C$0.50 EPS for the quarter, topping the consensus estimate of C$0.36 by C$0.14. Paramount Resources had a net margin of 35.18% and a return on equity of 24.13%. The firm had revenue of C$374.40 million for the quarter. On average, equities analysts expect that Paramount Resources Ltd. will post 3.3118866 EPS for the current year.

Paramount Resources Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 29th will be given a $0.125 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date of this dividend is Thursday, September 14th. Paramount Resources’s dividend payout ratio is presently 29.94%.

Insider Activity

In related news, Senior Officer E. Mitchell Shier sold 10,000 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of C$32.19, for a total value of C$321,910.00. Company insiders own 45.88% of the company’s stock.

About Paramount Resources

Paramount Resources Ltd. explores for and develops conventional and unconventional petroleum and natural gas in Canada. The company holds interests in the Karr and Wapiti Montney properties covering an area of 185,000 net acres located south of the city of Grande Prairie, Alberta; Kaybob North Duvernay development, the Kaybob North Montney oil development and other low-decline, legacy shale gas, and conventional natural gas producing properties covering an area of 745,000 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 811,000 net acres.