Paramount Resources Ltd. (OTCMKTS:PRMRF) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Paramount Resources Ltd. has received a consensus recommendation of "Moderate Buy" from four research firms, with three analysts rating it as a hold and one issuing a strong buy.
• The company's stock increased by 1.4% to a price of $16.25, while it anticipates posting an earnings per share of 1.74 for the current fiscal year.
• Paramount Resources announced a dividend of $0.0364 per share, reflecting a change from their previous dividend and a significant yield of 295.0%.

Paramount Resources Ltd. (OTCMKTS:PRMRF - Get Free Report) has earned an average recommendation of "Moderate Buy" from the four research firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company.

A number of research firms have recently commented on PRMRF. National Bankshares reaffirmed a "sector perform" rating on shares of Paramount Resources in a research note on Thursday. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Paramount Resources in a research note on Tuesday.

Paramount Resources Stock Up 1.4%

Shares of OTCMKTS:PRMRF traded up $0.23 during midday trading on Thursday, hitting $16.25. The stock had a trading volume of 3,686 shares, compared to its average volume of 52,209. The company's 50-day moving average price is $14.98 and its 200-day moving average price is $13.96. The company has a market capitalization of $2.33 billion, a P/E ratio of 2.32 and a beta of 1.40. Paramount Resources has a fifty-two week low of $9.89 and a fifty-two week high of $22.95.

Paramount Resources (OTCMKTS:PRMRF - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.10). The company had revenue of $93.43 million for the quarter, compared to analyst estimates of $131.00 million. Paramount Resources had a return on equity of 6.89% and a net margin of 111.48%. Research analysts expect that Paramount Resources will post 1.74 EPS for the current fiscal year.

Paramount Resources Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, September 29th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.0364 per share. The ex-dividend date is Monday, September 15th. This is a positive change from Paramount Resources's previous dividend of $0.04. This represents a yield of 295.0%. Paramount Resources's dividend payout ratio is currently 6.13%.

About Paramount Resources

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.

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