Paramount Resources (TSE:POU) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Paramount Resources Ltd. (TSE:POU - Get Free Report) shares 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 trading hands.

Analyst Ratings Changes

Several analysts recently commented on POU shares. Jefferies Financial Group reduced their target price on shares of Paramount Resources from C$37.00 to C$35.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Royal Bank of Canada boosted their price objective on Paramount Resources from C$34.00 to C$37.00 in a report on Friday, November 15th. Scotiabank increased their target price on Paramount Resources from C$43.00 to C$44.00 in a research note on Friday, November 15th. Cormark raised Paramount Resources from a "hold" rating to a "moderate buy" rating in a report on Friday, November 15th. Finally, CIBC upped their price objective on Paramount Resources from C$38.00 to C$39.50 in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of C$38.20.

Paramount Resources Price Performance

The company has a fifty day simple moving average of C$29.58 and a two-hundred day simple moving average of C$28.96. The stock has a market capitalization of C$4.67 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 0.14 and a beta of 3.04. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.68 and a current ratio of 0.75.

Paramount Resources Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were given a dividend of $0.15 per share. The ex-dividend date was Monday, December 16th. This represents a $1.80 annualized dividend and a yield of 5.66%. Paramount Resources's dividend payout ratio is 76.27%.

Insiders Place Their Bets

In other Paramount Resources news, Senior Officer Michael S. Han sold 8,320 shares of the firm's stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of C$30.86, for a total value of C$256,788.48. Also, Director Kimberley Elizabeth Lynch Proctor acquired 3,000 shares of the business's stock in a transaction that occurred on Friday, November 22nd. The shares were purchased at an average cost of C$31.36 per share, for a total transaction of C$94,080.00. Insiders have sold 88,320 shares of company stock worth $2,730,172 over the last ninety days. Corporate 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.