Paramount Resources (OTCMKTS:PRMRF) Stock Price Down 1.5% – What’s Next?

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) were down 1.5% during mid-day trading on Thursday . The company traded as low as $21.64 and last traded at $21.64. Approximately 24,653 shares traded hands during trading, a decline of 40% from the average daily volume of 40,923 shares. The stock had previously closed at $21.97.

Analysts Set New Price Targets

A number of research firms recently issued reports on PRMRF. Cormark upgraded Paramount Resources from a “hold” rating to a “moderate buy” rating in a report on Friday, November 15th. Cibc World Mkts raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th.

Paramount Resources Price Performance

The company has a market capitalization of $3.18 billion, a PE ratio of 12.16 and a beta of 2.55. The firm has a fifty day simple moving average of $20.60 and a 200 day simple moving average of $21.04. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.62 and a current ratio of 0.62.

Paramount Resources Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were issued a $0.1078 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a dividend yield of 6.65%. Paramount Resources’s payout ratio is currently 74.72%.

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.