Paramount Resources (TSE:POU) Shares Pass Above 200 Day Moving Average of $0.00

Paramount Resources Ltd (TSE:POU)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $7.86. Paramount Resources shares last traded at $7.74, with a volume of 121,313 shares.

POU has been the topic of a number of research analyst reports. GMP Securities cut their price target on shares of Paramount Resources from C$9.25 to C$9.00 in a report on Friday, June 28th. Royal Bank of Canada cut their price target on shares of Paramount Resources from C$10.00 to C$9.00 in a report on Thursday, July 18th. CSFB reissued an “underperform” rating and issued a C$7.00 price target on shares of Paramount Resources in a report on Tuesday, July 16th. CIBC cut their price target on shares of Paramount Resources from C$11.00 to C$7.75 in a report on Thursday, July 18th. Finally, Laurentian cut their price target on shares of Paramount Resources from C$15.00 to C$14.00 in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the company’s stock. Paramount Resources currently has an average rating of “Hold” and an average target price of C$9.78.

The firm has a market capitalization of $967.06 million and a price-to-earnings ratio of -2.56. The company has a debt-to-equity ratio of 40.00, a current ratio of 0.51 and a quick ratio of 0.47. The business’s fifty day moving average price is C$6.71.

Paramount Resources (TSE:POU) last released its quarterly earnings data on Wednesday, May 8th. The company reported C($0.59) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C($4.41) by C$3.82. The business had revenue of C$246.05 million for the quarter, compared to analysts’ expectations of C$254.00 million. Research analysts predict that Paramount Resources Ltd will post -0.95 EPS for the current year.

Paramount Resources Company Profile (TSE:POU)

Paramount Resources Ltd., an independent energy company, explores for, develops, produces, and markets natural gas, crude oil, and natural gas liquids in Canada. Its principal properties are the Montney and Duvernay developments covering approximately 3.0 million net acres located in Alberta and British Columbia.

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