Paramount Resources (OTCMKTS:PRMRF) Stock Crosses Below Fifty Day Moving Average – What’s Next?

Paramount Resources Ltd. (OTCMKTS:PRMRF) crossed 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 changing hands.

Wall Street Analyst Weigh In

PRMRF has been the subject of a number of recent research reports. Cormark raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. Cibc World Mkts upgraded Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th.

Paramount Resources Stock Performance

The company has a market capitalization of $3.03 billion, a P/E ratio of 11.56 and a beta of 2.53. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.01. The company’s fifty day moving average is $21.67 and its 200 day moving average is $20.72.

Paramount Resources (OTCMKTS:PRMRF) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.19). The company had revenue of $321.08 million during the quarter, compared to the consensus estimate of $337.69 million. Paramount Resources had a return on equity of 10.04% and a net margin of 19.96%. As a group, equities 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. Shareholders of record on Thursday, January 16th will be issued a dividend of $0.1043 per share. This represents a yield of 5.65%. The ex-dividend date is Wednesday, January 15th. Paramount Resources’s payout ratio is presently 70.23%.

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.