Paramount Resources (OTCMKTS:PRMRF) Share Price Crosses Below 50-Day Moving Average – What’s Next?

Paramount Resources Ltd. (OTCMKTS:PRMRF)’s share price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $21.67 and traded as low as $20.57. Paramount Resources shares last traded at $20.57, with a volume of 16,367 shares.

Analyst Ratings Changes

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

Paramount Resources Price Performance

The business has a fifty day moving average of $21.60 and a 200 day moving average of $20.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market cap of $2.99 billion, a PE ratio of 11.39 and a beta of 2.53.

Paramount Resources (OTCMKTS:PRMRF) last released its earnings results on Thursday, November 7th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.19). The business had revenue of $321.08 million for the quarter, compared to analysts’ expectations of $337.69 million. Paramount Resources had a net margin of 19.96% and a return on equity of 10.04%. Sell-side analysts anticipate that Paramount Resources Ltd. will post 1.78 earnings per share for the current year.

Paramount Resources Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, January 31st. Stockholders of record on Thursday, January 16th will be given a $0.1043 dividend. This represents a dividend yield of 5.65%. The ex-dividend date is Wednesday, January 15th. Paramount Resources’s payout ratio is currently 70.23%.

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.