Paramount Resources (OTCMKTS:PRMRF) Share Price Passes Below Fifty Day Moving Average of $25.01

Posted by MarketBeat News on Aug 3rd, 2022

Paramount Resources Ltd. (OTCMKTS:PRMRF – Get Rating) passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $25.01 and traded as low as $23.44. Paramount Resources shares last traded at $23.69, with a volume of 11,493 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. National Bank Financial cut their price objective on shares of Paramount Resources from C$50.00 to C$45.00 in a research note on Monday, July 18th. Scotiabank dropped their price target on shares of Paramount Resources from C$35.00 to C$34.00 in a research report on Thursday, July 14th. Stifel Nicolaus boosted their price target on shares of Paramount Resources from C$37.50 to C$47.50 in a research report on Thursday, May 5th. CIBC boosted their price target on shares of Paramount Resources from C$40.00 to C$50.00 in a research report on Wednesday, June 15th. Finally, BMO Capital Markets boosted their price objective on Paramount Resources from C$40.00 to C$45.00 in a report on Thursday, May 5th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.44.

Paramount Resources Trading Down 1.5 %

The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.55 and a current ratio of 0.55. The company has a 50 day simple moving average of $25.01 and a two-hundred day simple moving average of $23.66. The company has a market cap of $3.36 billion, a PE ratio of 12.95 and a beta of 2.95.

Paramount Resources (OTCMKTS:PRMRF – Get Rating) last released its earnings results on Wednesday, May 4th. The company reported $0.74 earnings per share for the quarter. Paramount Resources had a return on equity of 12.52% and a net margin of 21.12%. The company had revenue of $394.42 million for the quarter.

Paramount Resources Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, July 29th. Shareholders of record on Friday, July 15th were paid a dividend of $0.0776 per share. The ex-dividend date of this dividend was Thursday, July 14th. This represents a yield of 4.45%. Paramount Resources’s dividend payout ratio (DPR) is presently 50.82%.

Paramount Resources Company Profile

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Paramount Resources Ltd., an independent energy company, explores for, develops, produces, and markets natural gas, crude oil, and natural gas liquids in Canada. The company's principal properties are the Montney and Duvernay developments located in Alberta and British Columbia. It also invests in public and private corporations.