Paramount Resources Ltd. Announces Dividend of $0.04 (OTCMKTS:PRMRF)

Key Points

• Paramount Resources Ltd. has declared a dividend of $0.04 per share, with an impressive yield of 297.0%, to be distributed on August 29th to shareholders recorded by August 18th.
• The company reported a disappointing quarterly EPS of $0.02, missing analyst expectations of $0.12, while revenue for the quarter was $93.43 million, below the anticipated $131 million.
• Despite recent challenges, Paramount Resources has a consensus rating of "Moderate Buy" from analysts, with RBC reissuing a "sector perform" rating on May 14th.

Paramount Resources Ltd. (OTCMKTS:PRMRF - Get Free Report) announced a dividend on Tuesday, August 12th, investing.com reports. Stockholders of record on Monday, August 18th will be paid a dividend of 0.0362 per share on Friday, August 29th. This represents a dividend yield of 297.0%. The ex-dividend date of this dividend is Friday, August 15th.

Paramount Resources Trading Down 0.8%

Shares of Paramount Resources stock traded down $0.12 during trading on Thursday, reaching $14.64. The stock had a trading volume of 6,125 shares, compared to its average volume of 16,451. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 2.09 and a beta of 1.56. The stock has a fifty day moving average price of $15.58 and a two-hundred day moving average price of $14.35. Paramount Resources has a 52 week low of $9.89 and a 52 week high of $22.95.

Paramount Resources (OTCMKTS:PRMRF - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.10). The firm had revenue of $93.43 million during the quarter, compared to the consensus estimate of $131.00 million. Paramount Resources had a net margin of 111.48% and a return on equity of 6.89%. On average, equities analysts forecast that Paramount Resources will post 1.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada restated a "sector perform" rating on shares of Paramount Resources in a report on Wednesday, May 14th. Two investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Paramount Resources currently has a consensus rating of "Moderate Buy".

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.