Paramount Resources Ltd. (OTCMKTS:PRMRF) Declares Dividend Increase - $0.05 Per Share

Paramount Resources Ltd. (OTCMKTS:PRMRF - Get Free Report) declared a dividend on Saturday, June 14th, investing.com reports. Stockholders of record on Tuesday, June 17th will be given a dividend of 0.05 per share on Monday, June 30th. This represents a dividend yield of 3.72%. The ex-dividend date is Monday, June 16th. This is a 38.1% increase from Paramount Resources's previous dividend of $0.04.

Paramount Resources Stock Up 0.6%

Paramount Resources stock traded up $0.09 during midday trading on Tuesday, reaching $16.62. The stock had a trading volume of 18,131 shares, compared to its average volume of 73,002. The firm's fifty day simple moving average is $12.98 and its 200-day simple moving average is $16.00. 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 stock has a market capitalization of $2.38 billion, a P/E ratio of 9.34 and a beta of 1.59. Paramount Resources has a 1-year low of $9.89 and a 1-year high of $23.42.

Paramount Resources (OTCMKTS:PRMRF - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.09). Paramount Resources had a net margin of 19.96% and a return on equity of 10.04%. The firm had revenue of $185.24 million during the quarter, compared to the consensus estimate of $198.00 million. As a group, analysts expect that Paramount Resources will post 1.74 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the company. National Bank Financial lowered Paramount Resources from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Royal Bank of Canada reiterated a "sector perform" rating on shares of Paramount Resources in a report on Wednesday, May 14th. Finally, Raymond James raised shares of Paramount Resources to a "moderate buy" rating in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Paramount Resources currently has a consensus rating of "Moderate Buy".

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.