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

Paramount Resources Ltd. (OTCMKTS:PRMRF – Get 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

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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.