Paramount Resources Ltd. (OTCMKTS:PRMRF – Get Free Report) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $19.64 and traded as low as $19.14. Paramount Resources shares last traded at $19.23, with a volume of 22,092 shares.
Wall Street Analyst Weigh In
Separately, Cibc World Mkts raised Paramount Resources from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th.
Get Our Latest Report on Paramount Resources
Paramount Resources Stock Down 0.8 %
Paramount Resources (OTCMKTS:PRMRF – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.42 earnings per share (EPS) for the quarter. The business had revenue of $324.22 million during the quarter. Paramount Resources had a net margin of 19.56% and a return on equity of 9.90%. On average, research analysts expect that Paramount Resources Ltd. will post 1.8 EPS for the current year.
Paramount Resources Cuts Dividend
The company also recently declared a dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 16th will be issued a $0.111 dividend. This represents a dividend yield of 6.63%. The ex-dividend date is Tuesday, October 15th. Paramount Resources’s dividend payout ratio is currently 78.24%.
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.
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