Paramount Resources (OTCMKTS:PRMRF) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Paramount Resources shares have crossed above their two hundred day moving average of $13.69, currently trading at $14.74.
• The company reported a net margin of 111.48% and earnings per share of $0.02, significantly missing the consensus estimate of $0.12.
• Paramount has declared a dividend of $0.0362, representing a yield of 297.0%, with a low payout ratio of 6.13%.

Paramount Resources Ltd. (OTCMKTS:PRMRF - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $13.69 and traded as high as $14.81. Paramount Resources shares last traded at $14.74, with a volume of 39,066 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada restated a "sector perform" rating on shares of Paramount Resources in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy".

Paramount Resources Stock Up 0.6%

The company has a 50 day moving average of $15.13 and a two-hundred day moving average of $13.69. The firm has a market cap of $2.12 billion, a P/E ratio of 2.10 and a beta of 1.40.

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

Paramount Resources Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were given a $0.0362 dividend. The ex-dividend date was Friday, August 15th. This represents a yield of 297.0%. Paramount Resources's payout ratio is 6.13%.

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.

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