Paramount Resources (TSE:POU) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

Paramount Resources Ltd. (TSE:POU)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$22.31 and traded as low as C$21.73. Paramount Resources shares last traded at C$21.74, with a volume of 812,468 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently commented on POU shares. National Bankshares increased their price objective on shares of Paramount Resources from C$25.00 to C$27.50 and gave the company a “sector perform” rating in a research note on Thursday, September 25th. Jefferies Financial Group upped their price target on shares of Paramount Resources from C$25.00 to C$28.00 in a report on Tuesday, October 21st. CIBC raised their price objective on Paramount Resources from C$25.00 to C$26.00 in a report on Wednesday, October 15th. Royal Bank Of Canada boosted their price objective on Paramount Resources from C$23.00 to C$26.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 23rd. Finally, Raymond James Financial increased their target price on Paramount Resources from C$25.00 to C$27.00 in a research report on Tuesday, December 9th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$27.21.

Paramount Resources Stock Performance

The firm has a market capitalization of C$3.12 billion, a P/E ratio of 2.32, a price-to-earnings-growth ratio of 0.14 and a beta of 0.29. The company has a 50-day moving average of C$24.05 and a 200-day moving average of C$22.31. The company has a current ratio of 0.62, a quick ratio of 0.68 and a debt-to-equity ratio of 2.06.

Paramount Resources (TSE:POU) last issued its quarterly earnings results on Tuesday, November 4th. The company reported C($0.02) earnings per share for the quarter. The company had revenue of C$187.30 million during the quarter. Paramount Resources had a net margin of 18.92% and a return on equity of 10.06%. On average, equities analysts anticipate that Paramount Resources Ltd. will post 1.4075758 earnings per share for the current fiscal year.

Paramount Resources Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were given a $0.05 dividend. The ex-dividend date was Monday, December 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.8%. Paramount Resources’s payout ratio is 9.58%.

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. Depending on the product, contracts can have daily, monthly, or long-term agreements. Assets for exploration and production are acquired by way of royalties that are paid to provincial governments and freehold landowners.