Paramount Resources (OTCMKTS:PRMRF) Shares Cross Below Fifty Day Moving Average – Here’s Why

Paramount Resources Ltd. (OTCMKTS:PRMRF)’s stock price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $21.54 and traded as low as $21.14. Paramount Resources shares last traded at $21.38, with a volume of 174,597 shares traded.

Analysts Set New Price Targets

PRMRF has been the topic of several recent research reports. Cormark raised shares of 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 report on Thursday, October 17th.

Paramount Resources Price Performance

The company’s fifty day moving average price is $21.54 and its 200 day moving average price is $20.80. The company has a market capitalization of $3.15 billion, a P/E ratio of 12.01 and a beta of 2.53. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.01.

Paramount Resources Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, January 31st. Investors of record on Thursday, January 16th will be paid a $0.1043 dividend. The ex-dividend date is Wednesday, January 15th. This represents a yield of 5.65%. Paramount Resources’s dividend payout ratio (DPR) is 70.22%.

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.