Paramount Resources (OTCMKTS:PRMRF) Shares Pass Below 50-Day Moving Average – Here’s Why

Paramount Resources Ltd. (OTCMKTS:PRMRF)’s share price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $16.26 and traded as low as $12.47. Paramount Resources shares last traded at $12.69, with a volume of 28,870 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial lowered Paramount Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th.

Paramount Resources Price Performance

The firm has a market capitalization of $1.86 billion, a P/E ratio of 7.30 and a beta of 2.46. The stock’s 50 day simple moving average is $15.94 and its 200 day simple moving average is $18.95. 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 Increases Dividend

The company also recently disclosed a dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $0.0345 dividend. The ex-dividend date is Monday, March 17th. This represents a yield of 3.61%. This is a boost from Paramount Resources’s previous dividend of $0.03. Paramount Resources’s dividend payout ratio is 24.70%.

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.