Paramount Resources (OTCMKTS:PRMRF) Upgraded to “Moderate Buy” at Cormark

Cormark upgraded shares of Paramount Resources (OTCMKTS:PRMRF) from a hold rating to a moderate buy rating in a research report report published on Friday,Zacks.com reports.

Separately, Cibc World Mkts upgraded shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th.

Paramount Resources Price Performance

PRMRF opened at $22.03 on Friday. The firm has a market capitalization of $3.24 billion, a P/E ratio of 12.38 and a beta of 2.56. Paramount Resources has a one year low of $18.00 and a one year high of $24.84. The company has a fifty day moving average price of $19.51 and a 200-day moving average price of $21.22.

Paramount Resources Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be given a $0.1078 dividend. The ex-dividend date is Friday, November 15th. This represents a yield of 6.65%. Paramount Resources’s payout ratio is 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.