Paramount Resources (OTCMKTS:PRMRF) Shares Pass Below 50 Day Moving Average – Time to Sell?

Shares of Paramount Resources Ltd. (OTCMKTS:PRMRF) passed below its 50 day moving average during trading on Thursday . The stock has a 50 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

A number of brokerages have commented on PRMRF. Cibc World Mkts raised Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Cormark raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 15th.

Paramount Resources Price Performance

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 business has a 50-day moving average of $21.67 and a 200 day moving average of $20.72. The firm has a market capitalization of $3.03 billion, a PE ratio of 11.56 and a beta of 2.53.

Paramount Resources (OTCMKTS:PRMRF) last announced 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). Paramount Resources had a net margin of 19.96% and a return on equity of 10.04%. The firm had revenue of $321.08 million during the quarter, compared to analysts’ expectations of $337.69 million. As a group, research analysts anticipate that Paramount Resources Ltd. will post 1.78 EPS for the current fiscal year.

Paramount Resources Cuts Dividend

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