Paramount Resources (OTCMKTS:PRMRF) Reaches New 1-Year Low – What’s Next?

Paramount Resources Ltd. (OTCMKTS:PRMRF)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $10.39 and last traded at $10.44, with a volume of 85067 shares traded. The stock had previously closed at $11.42.

Wall Street Analyst Weigh In

PRMRF has been the subject of a number of research reports. Cormark raised Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th. National Bank Financial lowered shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th.

Paramount Resources Price Performance

The stock has a 50 day moving average of $19.59 and a two-hundred day moving average of $20.03. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market capitalization of $1.54 billion, a P/E ratio of 5.87 and a beta of 2.49.

Paramount Resources Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were paid a $0.0343 dividend. This represents a dividend yield of 1.84%. The ex-dividend date of this dividend was Thursday, February 20th. Paramount Resources’s payout ratio is 23.03%.

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.