Paramount Resources (OTCMKTS:PRMRF) Share Price Crosses Below Fifty Day Moving Average – What’s Next?

Paramount Resources Ltd. (OTCMKTS:PRMRF) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $15.54 and traded as low as $14.06. Paramount Resources shares last traded at $14.06, with a volume of 4,100 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Paramount Resources in a report on Wednesday, May 14th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Paramount Resources Trading Down 0.9%

The business has a 50-day moving average price of $15.54 and a two-hundred day moving average price of $14.19. The stock has a market capitalization of $2.02 billion, a P/E ratio of 2.01 and a beta of 1.56.

Paramount Resources (OTCMKTS:PRMRF) last released its earnings results on Wednesday, July 30th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.10). The company had revenue of $93.43 million for the quarter, compared to the consensus estimate of $131.00 million. Paramount Resources had a net margin of 111.48% and a return on equity of 6.89%. On average, sell-side analysts forecast that Paramount Resources Ltd. will post 1.74 earnings per share for the current fiscal year.

Paramount Resources Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be given a dividend of $0.0362 per share. This represents a dividend yield of 297.0%. The ex-dividend date is Friday, August 15th. Paramount Resources’s dividend payout ratio is presently 6.13%.

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.