Paramount Resources (OTCMKTS:PRMRF) Stock Crosses Below Fifty Day Moving Average – Here’s What Happened

Paramount Resources Ltd. (OTCMKTS:PRMRF)’s share price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $21.67 and traded as low as $20.57. Paramount Resources shares last traded at $20.57, with a volume of 16,367 shares traded.

Analysts Set New Price Targets

Several research firms have weighed in on PRMRF. Cormark upgraded shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. Cibc World Mkts upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th.

Paramount Resources Price Performance

The company’s 50 day simple moving average is $21.60 and its 200 day simple moving average is $20.70. 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 stock has a market capitalization of $2.99 billion, a PE ratio of 11.39 and a beta of 2.53.

Paramount Resources (OTCMKTS:PRMRF) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.19). Paramount Resources had a net margin of 19.96% and a return on equity of 10.04%. The business had revenue of $321.08 million during the quarter, compared to analysts’ expectations of $337.69 million. On average, equities analysts anticipate that Paramount Resources Ltd. will post 1.78 earnings per share for the current year.

Paramount Resources Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, January 31st. Shareholders of record on Thursday, January 16th will be paid a dividend of $0.1043 per share. This represents a yield of 5.65%. The ex-dividend date of this dividend is Wednesday, January 15th. 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.