Paramount Resources (TSE:POU) Stock Price Breaks Above Fifty Day Moving Average – What’s Next?

Paramount Resources Ltd. (TSE:POU) passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of C$32.20 and traded as high as C$33.00. Paramount Resources shares last traded at C$32.96, with a volume of 340,221 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have issued reports on POU shares. BMO Capital Markets boosted their price objective on shares of Paramount Resources from C$35.00 to C$37.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Scotia raised their target price on shares of Paramount Resources from C$34.00 to C$36.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. Scotiabank upgraded shares of Paramount Resources from a “hold” rating to a “sector outperform” rating and lifted their price target for the company from C$40.00 to C$42.00 in a research report on Monday. Royal Bank Of Canada boosted their price target on Paramount Resources from C$35.00 to C$37.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. Finally, ATB Cormark Capital Markets increased their price target on Paramount Resources from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Paramount Resources currently has a consensus rating of “Moderate Buy” and an average target price of C$35.45.

Paramount Resources Stock Up 2.8%

The company has a debt-to-equity ratio of 1.01, a current ratio of 1.30 and a quick ratio of 0.68. The company has a market cap of C$4.82 billion, a P/E ratio of -17.72, a PEG ratio of 0.14 and a beta of -0.07. The stock has a 50-day moving average of C$32.20 and a 200 day moving average of C$29.81.

Paramount Resources (TSE:POU) last posted its quarterly earnings data on Thursday, November 5th. The company reported C($2.65) earnings per share for the quarter. Paramount Resources had a negative return on equity of 10.12% and a negative net margin of 22.36%. The firm had revenue of C$257.10 million for the quarter. Research analysts anticipate that Paramount Resources Ltd. will post 1.41 earnings per share for the current year.

Paramount Resources Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 30th will be issued a $0.05 dividend. This represents a $0.60 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Monday, November 16th. Paramount Resources’s dividend payout ratio (DPR) is currently -32.26%.

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”.