Paramount Resources (OTCMKTS:PRMRF) Raised to Strong-Buy at Cibc World Mkts

Cibc World Mkts upgraded shares of Paramount Resources (OTCMKTS:PRMRF) from a hold rating to a strong-buy rating in a research report sent to investors on Thursday morning, Zacks.com reports.

Paramount Resources Trading Up 0.5 %

Shares of PRMRF stock opened at $19.32 on Thursday. The business’s 50 day moving average is $19.82 and its two-hundred day moving average is $21.51. The company has a market capitalization of $2.84 billion, a P/E ratio of 11.04 and a beta of 2.54. Paramount Resources has a twelve month low of $18.00 and a twelve month high of $24.95.

Paramount Resources (OTCMKTS:PRMRF) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.42 EPS for the quarter. The business had revenue of $324.22 million during the quarter. Paramount Resources had a return on equity of 9.90% and a net margin of 19.56%. As a group, equities analysts predict that Paramount Resources will post 1.8 earnings per share for the current fiscal year.

Paramount Resources Cuts Dividend

The firm also recently declared a dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th will be issued a $0.111 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a dividend yield of 6.63%. Paramount Resources’s dividend payout ratio is currently 76.00%.

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.