Paramount Resources (OTCMKTS:PRMRF) Downgraded by National Bank Financial to Hold

National Bank Financial cut shares of Paramount Resources (OTCMKTS:PRMRF) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports.

Separately, Cormark upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th.

Paramount Resources Stock Performance

OTCMKTS PRMRF opened at $12.84 on Tuesday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $21.03 and its two-hundred day moving average is $20.50. Paramount Resources has a 12-month low of $11.82 and a 12-month high of $24.84. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 7.21 and a beta of 2.49.

Paramount Resources Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 21st will be issued a $0.0343 dividend. This represents a dividend yield of 1.84%. The ex-dividend date is Thursday, February 20th. Paramount Resources’s dividend payout ratio is currently 70.23%.

About Paramount Resources

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.