Paramount Resources (TSE:POU) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Paramount Resources Ltd. (TSE:POU)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$20.27 and traded as high as C$23.03. Paramount Resources shares last traded at C$22.81, with a volume of 241,890 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on POU shares. CIBC increased their price objective on shares of Paramount Resources from C$25.00 to C$26.00 in a research report on Wednesday, October 15th. National Bankshares upped their target price on shares of Paramount Resources from C$25.00 to C$27.50 and gave the company a “sector perform” rating in a report on Thursday, September 25th. Jefferies Financial Group increased their price target on shares of Paramount Resources from C$25.00 to C$28.00 in a research note on Tuesday, October 21st. Finally, Royal Bank Of Canada raised their target price on shares of Paramount Resources from C$23.00 to C$26.00 and gave the stock a “sector perform” rating in a research note on Tuesday, September 23rd. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Paramount Resources has a consensus rating of “Hold” and a consensus price target of C$26.21.

Paramount Resources Price Performance

The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.68 and a current ratio of 0.62. The company’s fifty day simple moving average is C$21.48 and its two-hundred day simple moving average is C$20.27. The stock has a market capitalization of C$3.27 billion, a PE ratio of 2.27, a P/E/G ratio of 0.14 and a beta of 0.49.

Paramount Resources Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 31st will be issued a dividend of $0.05 per share. This represents a c) annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, October 15th. Paramount Resources’s dividend payout ratio (DPR) is 11.94%.

About Paramount Resources

Paramount Resources Ltd is a Canadian energy company that explores, develops, produces, and markets natural gas, crude oil, and natural gas liquids. The company takes part in exploration and production in Alberta and British Columbia. Sales for Paramount’s products are priced in a multitude of markets that span the United States and Canada.