Paramount Resources (TSE:POU) Shares Pass Below 200 Day Moving Average – Time to Sell?

Paramount Resources Ltd. (TSE:POU) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$22.09 and traded as low as C$21.61. Paramount Resources shares last traded at C$21.67, with a volume of 210,736 shares trading hands.

Analysts Set New Price Targets

POU has been the topic of a number of recent research reports. CIBC lowered their target price on Paramount Resources from C$24.50 to C$22.00 in a research report on Thursday, April 10th. Raymond James Financial set a C$20.00 price objective on Paramount Resources and gave the stock a “market perform” rating in a research note on Tuesday, April 8th. Finally, Royal Bank Of Canada raised their target price on shares of Paramount Resources from C$21.00 to C$23.00 and gave the company a “sector perform” rating in a research note on Monday. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$23.67.

Paramount Resources Trading Down 0.7%

The business has a fifty day moving average of C$19.23 and a 200-day moving average of C$22.09. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.68 and a current ratio of 0.62. The company has a market capitalization of C$3.23 billion, a P/E ratio of 8.87, a PEG ratio of 0.14 and a beta of 3.04.

Paramount Resources Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were paid a $0.05 dividend. The ex-dividend date was Monday, June 16th. This represents a $0.60 annualized dividend and a yield of 2.77%. Paramount Resources’s dividend payout ratio (DPR) is 73.70%.

Insiders Place Their Bets

In related news, Senior Officer Garth W.J. Stotts sold 5,122 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of C$19.16, for a total value of C$98,130.35. Also, Director Dirk Jungé acquired 2,000 shares of Paramount Resources stock in a transaction on Wednesday, April 9th. The shares were purchased at an average cost of C$14.80 per share, with a total value of C$29,595.90. Insiders own 45.36% of the company’s stock.

Paramount Resources Company Profile

Paramount Resources Ltd is a Canadian energy company that explores, develops, produces, and markets natural gas, crude oil, and natural gas liquids. The company takes part in exploration and production in Alberta and British Columbia. Sales for Paramount’s products are priced in a multitude of markets that span the United States and Canada.