Paramount Resources (TSE:POU) Shares Pass Above 200 Day Moving Average – Time to Sell?

Paramount Resources Ltd. (TSE:POU) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$23.04 and traded as high as C$26.49. Paramount Resources shares last traded at C$26.20, with a volume of 127,515 shares changing hands.

Analyst Upgrades and Downgrades

POU has been the topic of several analyst reports. Scotiabank increased their target price on Paramount Resources from C$29.00 to C$31.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Jefferies Financial Group reduced their price objective on shares of Paramount Resources from C$29.00 to C$28.00 in a research note on Tuesday, January 20th. Finally, Raymond James Financial raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Thursday, January 15th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$27.58.

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 has a market cap of C$3.76 billion, a price-to-earnings ratio of 2.79, a PEG ratio of 0.14 and a beta of 0.19. The business has a fifty day moving average price of C$24.46 and a 200 day moving average price of C$23.06.

Paramount Resources Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 27th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a c) dividend on an annualized basis and a dividend yield of 2.3%. Paramount Resources’s dividend payout ratio is 9.58%.

Paramount Resources Company Profile

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”.