Paramount Resources (OTCMKTS:PRMRF) Shares Cross Below 50 Day Moving Average – What’s Next?

Paramount Resources Ltd. (OTCMKTS:PRMRF) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $18.08 and traded as low as $11.20. Paramount Resources shares last traded at $11.55, with a volume of 146,975 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PRMRF shares. Cormark raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. National Bank Financial lowered shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th.

Paramount Resources Trading Up 4.1 %

The firm has a market cap of $1.71 billion, a P/E ratio of 6.49 and a beta of 2.46. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.01. The firm’s 50-day simple moving average is $18.08 and its 200 day simple moving average is $19.57.

Paramount Resources Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 21st were given a $0.0343 dividend. This represents a yield of 1.84%. The ex-dividend date of this dividend was Thursday, February 20th. Paramount Resources’s dividend payout ratio is 24.70%.

Paramount Resources Company Profile

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.