Paramount Resources (TSE:POU) Share Price Crosses 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 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 trading hands.

Analyst Ratings Changes

A number of analysts have commented on POU shares. Roth Mkm set a C$33.00 target price on Paramount Resources and gave the stock a “buy” rating in a report on Wednesday, March 4th. ATB Cormark Capital Markets upped their price target 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. Jefferies Financial Group dropped their price objective on Paramount Resources from C$29.00 to C$28.00 in a research report on Tuesday, January 20th. Raymond James Financial lifted their price objective on Paramount Resources from C$29.00 to C$31.00 and gave the stock an “outperform” rating in a report on Wednesday, March 4th. Finally, National Bank Financial boosted their target price on Paramount Resources from C$32.00 to C$32.50 and gave the stock a “sector perform” rating in a research report on Wednesday, March 4th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Paramount Resources presently has a consensus rating of “Moderate Buy” and an average target price of C$31.22.

Paramount Resources Trading Down 0.5%

The firm has a market capitalization of C$4.29 billion, a P/E ratio of 3.38, a P/E/G ratio of 0.14 and a beta of 0.14. The company has a current ratio of 3.77, a quick ratio of 0.68 and a debt-to-equity ratio of 0.94. The stock has a 50 day simple moving average of C$25.69 and a 200-day simple moving average of C$23.88.

Paramount Resources (TSE:POU) last issued its quarterly earnings data 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 during the quarter. Paramount Resources had a return on equity of 48.07% and a net margin of 129.11%. On average, equities research analysts forecast that Paramount Resources Ltd. will post 1.4075758 EPS for the current fiscal year.

Paramount Resources Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st will be given a $0.05 dividend. The ex-dividend date is Monday, March 16th. This represents a c) annualized dividend and a yield of 2.0%. Paramount Resources’s dividend payout ratio (DPR) 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”.