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

Paramount Resources Ltd. (TSE:POU) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$23.82 and traded as high as C$30.12. Paramount Resources shares last traded at C$29.87, with a volume of 369,094 shares.

Analyst Ratings Changes

A number of analysts have issued reports on the company. ATB Cormark Capital Markets raised their target price on Paramount Resources from C$28.00 to C$33.00 and gave the company an “outperform” rating in a report on Wednesday, March 4th. Scotiabank upped their price target on Paramount Resources from C$29.00 to C$31.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Roth Mkm set a C$33.00 price objective on Paramount Resources and gave the company a “buy” rating in a research report on Wednesday, March 4th. National Bank Financial raised their price objective 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. Finally, Royal Bank Of Canada boosted their target price on shares of Paramount Resources from C$26.00 to C$30.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 4th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$31.22.

Paramount Resources Trading Up 1.0%

The business’s 50 day moving average price is C$25.58 and its 200-day moving average price is C$23.82. The company has a market cap of C$4.31 billion, a price-to-earnings ratio of 3.40, a PEG ratio of 0.14 and a beta of 0.14. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.68 and a current ratio of 3.77.

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

Paramount Resources Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 27th were issued a dividend of $0.05 per share. This represents a c) dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Friday, February 13th. Paramount Resources’s payout ratio is presently 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”.