Paramount Resources (TSE:POU) Share Price Crosses Above 200-Day Moving Average - What's Next?

Paramount Resources Ltd. (TSE:POU - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$28.93 and traded as high as C$29.51. Paramount Resources shares last traded at C$29.11, with a volume of 469,823 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have issued reports on POU. Cibc World Mkts raised shares of Paramount Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 17th. Scotiabank lifted their price target on shares of Paramount Resources from C$44.00 to C$46.00 in a research report on Friday, January 17th. Royal Bank of Canada increased their price target on shares of Paramount Resources from C$34.00 to C$37.00 in a research report on Friday, November 15th. Jefferies Financial Group lowered their price objective on shares of Paramount Resources from C$37.00 to C$35.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. Finally, CIBC lifted their price target on shares of Paramount Resources from C$38.00 to C$39.50 in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$38.67.

Paramount Resources Trading Down 1.4 %

The company's fifty day simple moving average is C$30.78 and its 200-day simple moving average is C$28.93. The company has a market capitalization of C$4.27 billion, a P/E ratio of 12.33, 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 (TSE:POU - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported C$0.64 EPS for the quarter, missing the consensus estimate of C$0.92 by C($0.28). Paramount Resources had a return on equity of 10.03% and a net margin of 19.66%. Research analysts predict that Paramount Resources Ltd. will post 1.4075758 earnings per share for the current year.

Paramount Resources Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 31st will be issued a $0.15 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $1.80 annualized dividend and a yield of 6.18%. Paramount Resources's payout ratio is 76.27%.

Insider Buying and Selling at Paramount Resources

In other news, Director Kimberley Elizabeth Lynch Proctor bought 3,000 shares of Paramount Resources stock in a transaction dated Friday, November 22nd. The stock was bought at an average price of C$31.36 per share, for a total transaction of C$94,080.00. Also, insider Brenda Gail Riddell purchased 100,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of C$31.30 per share, for a total transaction of C$3,129,630.00. In the last three months, insiders bought 103,248 shares of company stock valued at $3,231,616 and sold 88,320 shares valued at $2,730,172. 45.36% of the stock is currently owned by corporate insiders.

Paramount Resources Company Profile

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.