Paramount Resources (OTCMKTS:PRMRF) Stock Crosses Below 50-Day Moving Average of $22.37

Paramount Resources Ltd. (OTCMKTS:PRMRFGet Rating) shares passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $22.37 and traded as low as $19.79. Paramount Resources shares last traded at $20.04, with a volume of 7,734 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently issued reports on PRMRF. Scotiabank reduced their target price on Paramount Resources from C$36.00 to C$32.00 in a research note on Tuesday, January 17th. National Bank Financial reduced their target price on Paramount Resources from C$40.00 to C$37.50 in a research note on Wednesday, January 11th.

Paramount Resources Stock Down 3.4 %

The stock has a market capitalization of $2.86 billion, a PE ratio of 13.05 and a beta of 2.93. The company has a 50 day moving average price of $22.37 and a 200-day moving average price of $21.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.79 and a quick ratio of 0.73.

Paramount Resources Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be paid a $0.0911 dividend. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a yield of 5.03%. Paramount Resources’s payout ratio is 91.67%.

Paramount Resources Company Profile

(Get Rating)

Paramount Resources Ltd. explores and develops both conventional and unconventional petroleum and natural gas resources. It operates through the following regions: Grande Prairie Region, Kaybob Region and Central Alberta and Other Region. The company was founded by Clayton H. Riddell on February 14, 1978 and is headquartered in Calgary, Canada.

Further Reading

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