Paramount Resources (TSE:POU) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Paramount Resources Ltd. (TSE:POU) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$24.53 and traded as high as C$30.50. Paramount Resources shares last traded at C$30.16, with a volume of 299,174 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. National Bank Financial raised their target price on shares of Paramount Resources from C$32.00 to C$32.50 and gave the stock a “sector perform” rating in a research note on Wednesday, March 4th. Canadian Imperial Bank of Commerce boosted their price target on shares of Paramount Resources from C$25.50 to C$30.50 in a research note on Wednesday, March 4th. Scotiabank increased their price target on shares of Paramount Resources from C$29.00 to C$31.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. ATB Cormark Capital Markets raised their price objective on shares of Paramount Resources from C$28.00 to C$33.00 and gave the company an “outperform” rating in a research report on Wednesday, March 4th. Finally, Roth Mkm set a C$33.00 price objective on Paramount Resources and gave the company a “buy” rating in a report on Wednesday, March 4th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Paramount Resources presently has an average rating of “Moderate Buy” and an average price target of C$31.22.

Paramount Resources Stock Up 1.6%

The company has a debt-to-equity ratio of 0.94, a current ratio of 3.77 and a quick ratio of 0.68. The firm’s 50-day moving average price is C$27.04 and its 200 day moving average price is C$24.53. The firm has a market capitalization of C$4.36 billion, a price-to-earnings ratio of 3.44, a price-to-earnings-growth ratio of 0.14 and a beta of 0.14.

Paramount Resources (TSE:POU) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported C($0.03) earnings per share (EPS) for the quarter. Paramount Resources had a return on equity of 48.07% and a net margin of 129.11%.The company had revenue of C$262.50 million for the quarter. Sell-side analysts expect that Paramount Resources Ltd. will post 1.4075758 EPS for the current year.

Paramount Resources Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st will be issued a $0.05 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, March 16th. Paramount Resources’s payout ratio is 6.83%.

About Paramount Resources

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”.