Paramount Resources (TSE:POU) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Paramount Resources Ltd. (TSE:POU)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$28.94 and traded as high as C$31.94. Paramount Resources shares last traded at C$31.82, with a volume of 398,114 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on POU shares. Cibc World Mkts raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Scotiabank lifted their price target on shares of Paramount Resources from C$43.00 to C$44.00 in a research report on Friday, November 15th. Royal Bank of Canada boosted their price target on shares of Paramount Resources from C$34.00 to C$37.00 in a report on Friday, November 15th. Jefferies Financial Group dropped their price objective on Paramount Resources from C$37.00 to C$35.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, CIBC boosted their target price on Paramount Resources from C$38.00 to C$39.50 in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$38.20.

Paramount Resources Trading Up 0.6 %

The company has a market cap of C$4.70 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 0.14 and a beta of 3.04. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83. The business’s 50 day moving average price is C$29.58 and its 200-day moving average price is C$28.96.

Paramount Resources Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 31st will be given a $0.15 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.62%. Paramount Resources’s payout ratio is presently 76.27%.

Insider Activity at Paramount Resources

In related news, Senior Officer David Blake Reid sold 68,000 shares of Paramount Resources stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of C$30.90, for a total transaction of C$2,101,200.00. Also, insider Brenda Gail Riddell purchased 100,000 shares of the stock in a transaction dated Monday, November 25th. The shares were bought at an average price of C$31.30 per share, with a total value of C$3,129,630.00. Over the last ninety days, insiders sold 88,320 shares of company stock worth $2,730,172. Company insiders own 45.36% of the company’s stock.

About Paramount Resources

Paramount Resources Ltd. explores for and develops conventional and unconventional petroleum and natural gas reserves and resources in Canada. The company holds interests in the Karr and Wapiti Montney properties covering an area of 109,000 net acres located south of the city of Grande Prairie, Alberta; Kaybob North Duvernay development and natural gas producing properties covering an area of 124,000 net acres located in west-central Alberta; and Willesden Green Duvernay development in central Alberta and shale gas producing properties in the Horn River Basin in northeast British Columbia covering an area of 249,000 net acres.