Paramount Resources (TSE:POU) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Shares of Paramount Resources Ltd. (TSE:POU) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$22.56 and traded as high as C$25.55. Paramount Resources shares last traded at C$25.43, with a volume of 153,329 shares traded.

Analyst Ratings Changes

A number of research analysts have issued reports on POU shares. CIBC increased their target price on shares of Paramount Resources from C$25.00 to C$26.00 in a report on Wednesday, October 15th. Scotiabank increased their target price on Paramount Resources from C$29.00 to C$31.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Jefferies Financial Group dropped their price target on Paramount Resources from C$29.00 to C$28.00 in a research note on Tuesday, January 20th. Finally, Raymond James Financial upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Thursday, January 15th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Paramount Resources has an average rating of “Hold” and an average price target of C$27.21.

Paramount Resources Price Performance

The company has a debt-to-equity ratio of 2.06, a current ratio of 0.62 and a quick ratio of 0.68. The business’s 50-day moving average price is C$24.22 and its two-hundred day moving average price is C$22.56. The firm has a market cap of C$3.65 billion, a price-to-earnings ratio of 2.71, a P/E/G ratio of 0.14 and a beta of 0.29.

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

Paramount Resources Dividend Announcement

The firm 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. This represents a c) dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, December 15th. Paramount Resources’s dividend payout ratio (DPR) is presently 9.58%.

Paramount Resources Company Profile

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”.